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Judgment Search Results Home > Cases Phrase: indian partnership act Court: gujarat Year: 1975 Page 1 of about 11 results (0.015 seconds)

Sep 18 1975 (HC)

Addl. Commissioner of Income-tax, Gujarat Vs. Harjivandas Hathibhai

Court : Gujarat

Decided on : Sep-18-1975

Reported in : [1977]108ITR517(Guj)

..... correct approach which the tribunal should have adopted was whether there being no specific agreement to the contrary as required by section 42(c) of the indian partnership act, from the facts and circumstances of the case an inference can be drawn that there must have been an agreement between the surviving partners and the ..... of the partners, the firm should not stand dissolved. mr. kaji is right when he says that the provisions of section 42(c) of the indian partnership act do not require that there must be an agreement in writing between the partners that, on the death of one of the partners, the firm will ..... or one or more new partners being admitted. it deals with cases of retirement of partners and introduction of new partners but the firm under the indian partnership act would continue in such a case. therefore, all that sub-section (2) of section 187 points out is that with the retirement of one or ..... and 'dissolution of a firm' are to be noticed and the two concepts are altogether distinct. he has pointed out that under section 31 of the indian partnership act one mode of reconstitution of a firm, namely, by the introduction of a new partner with the consent of the existing partners unless there is a ..... of which r was a partner stood dissolved on the death of r in view of the provisions of section 42(c) of the indian partnership act, that a completely new partnership came into being on june 9, 1966, and, therefore, it was a case of succession of one firm by another to which .....

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Feb 07 1975 (HC)

Vallabhdas Manjibhai Dholakia and ors. Vs. Commissioner of Income-tax, ...

Court : Gujarat

Decided on : Feb-07-1975

Reported in : [1975]98ITR403(Guj)

..... p.d. desai, j.1. the second and third petitioners are firms registered under the indian partnership act, 1922. the first petitioners is a partner in the said two firms. the said firms carry on the business of building ..... constitutionality of the impugned provisions based on the provisions of the said sub-articles must fail. we might clarify that though the second and third petitioners are partnership firms, we have still examined the challenge to the impugned provisions founded on article 19(1) (f) and (g) since the first petitioner, who ..... every conceivable basis on which such a statute might be supported. he must conclusively establish not merely the possibility of inequality but hostile unequal treatment. (see east indian tobacco co. v. state of andhra pradesh, twyford tea co. v. state of kerala and v. j. ferreira v. municipal corporation of greater bombay). ..... reasonably and bona fide and not arbitrarily and capriciously. the order imposing penalty is appealable to the income-tax appellate tribunal under the provisions of the act. having regard to the foregoing discussion, it would appear that the impugned provision in its entirety meets the test of reasonableness. it is a ..... question was not pressed before us. as regards the challenge on merits, it was stated that the petitioners would approach the authorities constituted under the act and seek appropriate relief in the said forum. 4. in order to appreciate the points raised for our determination, it would be necessary to make .....

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Jan 10 1975 (HC)

State of Gujarat Vs. Vora Jayantilal Chhotalal and ors.

Court : Gujarat

Decided on : Jan-10-1975

Reported in : (1975)16GLR661

..... ) the learned single judge has expressed a contrary view. he has held that if a partner gets false entries made in the books of account of the partnership firm, he cannot be said to be acting in the capacity of a cleric, officer or servant of the firm. according to him, the relationship which is contemplated by section 477a is the relationship ..... servant.' in the context of a partner the learned judges observed that there is no legal impediment in the way of a partner acting for the purpose of writing accounts as a clerk, servant or officer of the partnership firm. they have further observed that the expression 'employed' does not necessarily connote relationship of master and servant and, therefore, a person who ..... having quoted the material part of that section in his judgment, this is what he has observed:although we have no corresponding act, i think, the terms of the section are wide enough to include a partner dishonestly appropriating the partnership property.in our opinion, the dictum laid down by mr. justice mathew is in direct conflict with the following dictum laid ..... to write its accounts, he acts as its servant. therefore, according to the high court of bombay, if he falsifies accounts, he is liable to be punished under section 477a of indian penal code. it has also been held in that decision that a partner who dishonestly misappropriates or converts to his own use any of the partnership property with which he is .....

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Sep 19 1975 (HC)

Commissioner of Income-tax, Gujarat-i Vs. Babubhai Mansukhbhai (Deceas ...

Court : Gujarat

Decided on : Sep-19-1975

Reported in : [1977]108ITR417(Guj)

..... by will or other testamentary disposition any property, which is capable of being so disposed of by him, in accordance with the provisions of the indian succession act, 1925, or any other law for the time being in force and applicable to hindus. explanation to section 30 says that the interest of a ..... 3rd share of the property left by durga prasad, but his widow, jai devi, and his son, ram rakshpal, entered into a partnership with 2/3rd of the assets of the business known as murlidhar mathura prasad which was, as already indicated, the separate business of durga prasad. a ..... partnership was entered into between jai devi and ram rakshpal and its terms were incorporated in a deed which was duly registered on 23rd april ..... rules founded on equitable considerations affecting payment of debts incurred personally by any member of the coparcenary and by the hindu women's rights to property act, 1937, which conferred new rights on widows of coparceners. the highest authorities on hindu law took the view that the mitakshara coparcenary had lost a ..... ordinarily the interest in the coparcenary property would devolve by survivorship upon the surviving members of the coparcenary and not in accordance with the hindu succession act but if the deceased had left him surviving a female relative specified in class i of the schedule or a male relative, specified in that class .....

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Apr 07 1975 (HC)

Bank of Baroda Ltd. Vs. Mahindra Ugine Steel Co. Ltd.

Court : Gujarat

Decided on : Apr-07-1975

Reported in : [1976]46CompCas227(Guj)

..... his hands for collection.' 9. in halsbury's laws of england, third edition, volume 2, article 277, at pages 150-151, it has been observed : 'a 'banker'is an individual, partnership or corporation whose sole or predominating business is banking, that is, the receipt of money on current or deposit account and the payment of cheques drawn by and the collection ..... . s. davar v. shanker vishnu chandrachud j., speaking for the division bench, observed : 'on a review of these authorities and from the provisions in section 153(2) of the indian companies act, 1913, it seems to us clear that the consent of the majority of creditors or shareholders to a scheme does not conclude the issue whether the scheme should be sanctioned ..... making an order sanctioning the scheme but also at any time thereafter. such power is not conferred on english courts by statute nor was it conferred on indian courts under section 153 of the indian companies act 1913. section 394(!) furthermore authorises the court to make provision for those who dissent from the scheme. in our country, therefore, the role which the courts ..... that after protracted deliberations between the respective boards of directors of the two companies and in consultation with the major shareholders of the transferor-company, namely, life insurance corporation of indian and unit trust of india, the ration was worked out at the said figure. due consideration was given to the fact that the shareholders opting for cash payment should not .....

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Jul 29 1975 (HC)

Amthiben Manganlal Wd/O. Maganlal Pranlal Mistry and ors. Vs. Supdt. G ...

Court : Gujarat

Decided on : Jul-29-1975

Reported in : (1976)17GLR910

..... because the deceased had a h.u.f. firm of him and his sons and some entry of a small amount of interest in a partnership account would not show that he was only a financial partner. in fact, all the partners prajapati and kantilal mehta had categorically deposed that the ..... tax assessment orders, exh 109 to 113 have been produced alongwith the two orders for two further years, ex. 118 and 119 of the banaskantha construction partnership. the tribunal had assessed income only at rs. 5,000/- by making erroneous assumption that in the hue firm the deceased was only one sharer, ..... used against the person making them should be clear and they are substantive evidence by themselves in view of section 17 and 21 of the indian evidence act, though they may not be conclusive proof of the matters admitted. admissions duly proved were admissible evidence irrespective of whether the party making them ..... pillai v. gnana sam-bandha pandora sannidhi a.i.r. 1917. p.c. 6, in the following words:a practice has grown up in indian procedure of those in possession of important documents or information lying by, trusting to the abstract doctrine of the onus of proof, and failing accordingly to ..... the form of log books, musters etc. and by taking whatever clue that is available, from statutory police reports, which are mandatory under the act so that they effectively discharge their statutory duties entrusted to them by the parliament of assessing a just compensation unpossessed by any technicalities, as per the .....

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Nov 14 1975 (HC)

Additional Commissioner of Income-tax, Gujarat Vs. Ahmedabad, Millowne ...

Court : Gujarat

Decided on : Nov-14-1975

Reported in : [1977]106ITR725(Guj)

..... legal advisers to the association who may advise them, when necessary.' 19. before completing our reference to the rules of the association, it should be noted that previously, any individual, partnership or company, was eligible for the membership of the association, as per old rule 4. but this old rule 4 has been substituted by the present rule 4 on december ..... remote and indirect manner such an object might be some public utility, it cannot be called a charitable purpose within the meaning of section 4(3)(i) of the indian income-tax act, 1922. in view of this decision, even the object mentioned in clause (f) cannot be considered as the object serving any public utility. 30. if we closely scrutinise the ..... income-tax v. cochin chamber of commerce & industry : [1973]87itr83(ker) in preference to the view taken by the calcutta and mysore high courts in commissioner of income-tax v. indian chamber of commerce : [1971]81itr147(cal) and commissioner of income-tax v. sole trustee, loka shikshana trust : [1970]77itr61(kar) . this controversy about the interpretation of clause (15) of section ..... common quality is their profession or vocation, can legitimately be invested with the attributes of a public nature, then every partnership, company or an association of persons can be an object of charity, and the trusts created for the benefit of such partnerships, companies and associations would be charitable trusts earning exemption under section 11. absurdity of such a situation cannot be .....

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Nov 12 1975 (HC)

Commissioner of Income-tax, Gujarat-iii Vs. Sercon Pvt. Ltd.

Court : Gujarat

Decided on : Nov-12-1975

Reported in : [1978]114ITR913(Guj)

..... as we have seen, thanks to the debenture conferring a floating charge a company is in fact in a stronger position than an individual or partnership in raising additional resources in this way. in law, however, loan capital is fundamentely different from share capital; it is a legally enforceable debt ..... declared by it would be unreasonable. in that context, the revenue contended that the expression 'smallness of profits' in section 23a of the indian income-tax act, 1922, meant no more than smallness of assessable income and in any event in computation of profits the excess in considering whether the condition ..... 27,084. as no dividend had been declared the assessee was called upon to show cause why the provisions of section 23a of the indian income-tax act, 1922, should not be invoked. the assessee in its reply contended that the entire income consisted of capital gains and according to commercial ..... the earlier reserves) representing accumulations of past profits which have not been the subject of an order under section 104 or the corresponding provision of the indian income-tax act, 1922 (xi if 1922), exceed - either 1. the agreegate of - (i) the paid-up capital of the company exclusive of the capital ..... are retained which equal or exceed the value of that capital. the fund of credit thus created acts as a substitute for the personal credit of a private credit or private trade or partnership and enables the company to have a chance of survival in the harshly competitive world of commerce. .....

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Dec 18 1975 (HC)

Additional Commissioner of Income-tax, Gujarat Vs. Mukur Corporation

Court : Gujarat

Decided on : Dec-18-1975

Reported in : [1978]111ITR312(Guj)

..... kutcha chithi by which the lease rights were assigned by the landlord and the assessee-firm is formed with effect from june 15, 1964, under the partnership deed dated june 29, 1964. the above circumstances of the case, especially dr. vyas's deposition that he was only the benami of the assessee ..... b. m. raval and when shri raval requested him to work as the benamidar of himself and shri ramesh p. modi, who were in partnership, to purchase the land on lease from shri manekji hormasji, he agreed to do so in view of his obligation to shri raval and it ..... which the commissioner had relied upon, was supporting material and did not constitute the basic ground on which the order under section 33b (of the act of 1922) was passed. the supreme court further observed that even if the facts, which the commissioner introduced regarding the inquiries made by him, had ..... after knowing the contents of this affidavit, checked up the record and ultimately came to the conclusion that revisional proceedings contemplated by section 263 of the act should be undertaken. he, therefore, issued the above referred notice dated 24th february, 1972. in this notice he has mentioned the fact that at ..... of the revisional powers of the commissioner acting under section 263 of the income-tax act, 1961 (which is hereinafter referred to as 'the act'). 2. the facts which give rise to this reference can be shortly stated as under. the respondent-assessee was a registered partnership firm consisting of two partners at the .....

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Nov 12 1975 (HC)

Commissioner of Income-tax, Gujarat Ii Vs. Patel Brothers and Co. Ltd.

Court : Gujarat

Decided on : Nov-12-1975

Reported in : [1977]106ITR424(Guj)

..... of 1974, identical question have been referred to us in the following facts and circumstances. the relevant assessment years are 1970-71 and 1971-72. the assessee is a partnership firm carrying on business as commission agent in cloth at ahmedabad. the assessee-firm claimed deduction of a sum of rs. 17,471 for the assessment year 1970-71 and ..... kept in mind the expenses laid out by providing something in the course of business or trade. it is no doubt true that with effect from 28th february, 1970, the indian parliament has also prohibited deduction on account of entertainment expenses. unfortunately, however, it has not thought fit in its wisdom to define the term 'entertainment expenses' or to ..... 'entertainment' which we have indicated above. we think that the revenue was right when it was contended on its behalf that entertainment is hospitable treatment of guests and every act of entertainment includes hospitality. but, in our opinion, that would not warrant the converse position to be correct and every hospitability would not constitute entertainment. hospitality shown on accounting ..... 'entertainment' given in stroud's judicial dictionary, 4th edition, volume 2. the following observation has been relied upon which appears at page 916 under the term 'entertainment' : 'by refreshment houses act, 1860 (c. 27), section 6, a refreshment-house requiring a licence was a building 'kept open for public refreshment, resort, and entertainment'. 'entertainment', as there used, meant, 'not .....

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