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Judgment Search Results Home > Cases Phrase: indian partnership act Court: gujarat Year: 1978 Page 1 of about 7 results (0.076 seconds)

Oct 12 1978 (HC)

Commissioner of Income-tax, Gujarat Vs. Rasiklal Balabhai

Court : Gujarat

Decided on : Oct-12-1978

Reported in : [1979]119ITR303(Guj)

..... in favour of the assessee, posed a crucial question, whether a business which has been carried on by a partnership can be regarded as business carried on by a partner, and held (p. 412) : 'a 'partnership' is defined by section 4 of the indian partnership act as the relation between persons who have agreed to share the profit of a business carried on by all ..... or any of them acting for all. when a firm carries on business, it is a business carried on by the ..... partners of that firm. one partner is the agent of the other in carrying on that business. when a partnership carries ..... on the business. it is equally true that looking to the definition of 'partnership' in section 4 of the partnership act, when you have a partnership business, the business is carried on by each of the partners, and the definition of a partnership in the partnership act has been incorporated in the indian income-tax act, in section 2(6b). therefore, the contention that section 10(1) cannot apply .....

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Aug 11 1978 (HC)

Kharva Gigabhat Mavji Vs. Soni Jagjivan Kanji

Court : Gujarat

Decided on : Aug-11-1978

Reported in : (1979)1GLR256

..... to import the definition of the word 'person' occurring in section 3(42) of the general clauses act, 1897 into section 4 of the partnership act since it was totally repugnant to the subject of the partnership law. the court found, on examination of section 4 of the indian partnership act, that it contemplated only natural or artificial, i.e. legal persons and a firm is not ..... a 'person' and as such is not entitled to enter into a partnership with another firm or hindu ..... undivided family or individual, and therefore, there could arise no question of registration of a partnership purporting to be one between firms ..... by the decision of the supreme court. in ratnesh himmatlal shah v. harsukh jadhavji joshi : air1975sc1470 a question arose whether a flat in a tenant co-partnership housing society under the maharashtra co-operative societies act, 1960 was liable to attachment and sale in execution of a decree against a member allottee of the said flat. on behalf of the appellant-decree .....

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Feb 21 1978 (HC)

A.C. Patel and anr. Vs. N.N. Majmudar, Income-tax Officer, Ward-b (Ass ...

Court : Gujarat

Decided on : Feb-21-1978

Reported in : [1978]114ITR1(Guj)

..... by renwick & company private ltd. for the 44,000 shares held by the partnership firm. it must be pointed out that in connection with the assessment years 1958-59 to 1960-61, the act applicable was the indian income-tax act, 1922. at the relevant time till april 1, 1960 the material part of section ..... dividend - interim or final - is income taxable in a particular year of assessment must be determined in the light of section 16(2) of the indian income-tax act. the legislature had not made dividend income taxable in the year in which it becomes due : by express words of the statute, it is taxable only ..... 1964]53itr83(sc) and ramesh r. saraiya's case : [1965]55itr699(sc) , it is clear that, so far as section 16(2) of the indian income-tax act, 1922, was concerned, only dividend which was paid, distributed or credited or deemed to have been paid, distributed or credited could be includible in the income of ..... the income of the previous year relevant to the assessment year 1958-59 to 1960-61. the result was that, under section 3 of the indian income-tax act 1922, which was the charging section, no charge was created in respect of the dividend income of getting created (sic) section 3 as it ..... the alternative, he had contended that because of the alternative remedy available to the petitioner under the provisions of the scheme of the indian income-tax act, 1922, or the income-tax act, 1961, no relief should be given to the petitioners under the article 226. in the light of what we have stated .....

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Aug 16 1978 (HC)

Firm of Sarabhai Hathising and anr. Vs. Ratilal Nathalal and ors.

Court : Gujarat

Decided on : Aug-16-1978

Reported in : AIR1979Guj110; (1979)0GLR484

..... relied provided that where the writing containing the acknowledgement is undated, oral evidence may be given of the time when it was signed; but subject to the provisions of the indian evidence act, 1872 oral evidence of its contents shall not be received, it has been argued by. mr. amin that there is no oral evidence to show when exs: 86 and ..... of defendant-1firm had no authority to acknowledge the debt. the case of the contesting defendants on this aspect is much weaker. they have not produced in the court the partnership deed. if they had done so, the document would have shown the authority of each of the partners of defendant 1-firm in this context mr. amin has invited our ..... defendant 10 had filed civil suit no. 1080 of 1963 in the city civil court at bombay for dissolution of partnership and for taking accounts of the partnership business. they further show that that suit was stayed under. section 34 of the arbitration act and that the disputes between the parties were referred to the arbitration of shri g. a. thakkar, advocate. these ..... firm, a firm always operates through its partners, one or more. each partner is the agent of the firm. therefore, a partner has got the authority to do all acts which are necessary to be done for the benefit of the partnership firm, in particular to keep its business running. section 19 provides that subject to the provisions of section 22, the .....

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Oct 19 1978 (HC)

Addl. Commr. of Income-tax Gujarat Vs. Speciality Paper Ltd.

Court : Gujarat

Decided on : Oct-19-1978

Reported in : [1982]133ITR879(Guj)

..... the supreme court in its subsequent decision in travancore-cochin chemicals (p). ltd. v. cwt : [1967]65itr651(sc) . the facts in that case were that on july 22, 1949, a partnership was formed between two public limited companies, viz., fertilizers & chemicals travancore ltd. alwaye, and the mettur chemicals & industrial corporation ltd., mettur for establishing a caustic soda factory with an estimated ..... been started in august, 1949, and the government entered the company and subscribed a large share of capital and a new private limited company was formed and registered under the indian companies act, on november 8, 1951. the new company took over the plant and machinery buildings construction stores, materials, etc. at different stages of erection and also all book debts and ..... the wto that it was not liable to pay wealth-tax during the year of account as it was exempted from the wealth-tax under s. 45(d) of the act. the wto rejected the claim on the ground that the assessee was established within the meaning of s. 45(d) and the proviso thereto in november, 1951, and consequently, the ..... surgical cotton mills ltd. : [1967]63itr478(sc) , in the context of exemption under s. 5(1) of the w. t. act, 1957. the facts in that case were that the company was a public limited company incorporated under the indian companies act, 1913, in the year 1939, and was carrying on the business of manufacture of absorbent cotton wool. in march, 1955, the .....

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Nov 20 1978 (HC)

Nanji Kalubhai Oil Mill Vs. State of Gujarat

Court : Gujarat

Decided on : Nov-20-1978

Reported in : [1979]44STC271(Guj)

..... as under : 'it is well-established that the high court is not a court of appeal in a reference under section 66 of the indian income-tax act, 1922, and it is not open to the high court in such a reference to embark upon a reappraisal of the evidence and to arrive ..... the applicant and not consignment sales ?' 2. the facts leading to this reference, shortly stated, are as under : the assessee is a partnership firm, having an oil mill at gondal for the manufacture and sale of groundnut oil and oilcakes, and is registered as a dealer under the gujarat sales ..... tribunal was justified in law in holding that the impugned transactions were not purchases within the meaning of section 2(13) of the bombay sales tax act, 1953 and (2) whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the impugned purchases were ..... , according to the assessee, were consignment transactions. the sales tax officer, therefore, levied tax thereon at the rate of 10 per cent. under the central act. the assessee, therefore, carried the matter in appeal before the assistant commissioner of sales tax contending, inter alia, that the transactions in question were consignment sale ..... of the applicant and seized the account books and other papers. he then proceeded to assess the assessee for s.y. 2027 under the central sales tax act, 1956. in the course of the assessment, the sales tax officer considered certain transactions amounting to rs. 8,77,064 as inter-state sales, which .....

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Feb 22 1978 (HC)

Bharat Textile Works and ors. Vs. Income-tax Officer Circle-iv, 3-a, ( ...

Court : Gujarat

Decided on : Feb-22-1978

Reported in : [1978]114ITR28(Guj)

..... by the income-tax officer' and under sub-section (1) where a person has been previously assessed by way of regular assessment under the act or under the indian income-tax act, 1922, the income-tax officer may, on or after the 1st day of april in the financial year, by order in writing, require the ..... challenge to the constitutional validity of section 217(1a). 2. the petitioner no. 1 in this case is a partnership firm registered with the income-tax authorities under the provision of the income-tax act, 1961. the petitioners nos. 2,3 and 4 are three of the five partners of the first petitioner-firm. ..... indian income-tax act, 1922, and also under the scheme of the income-tax act 1961, tax is payable on the income of the previous year but under the provisions relating to advance tax even before the ..... tax' though it may be tax other than advance tax. as is well known, the provisions regarding advance tax were introduced in the indian income-tax act, 1922, in accordance with what was known as 'pay as you earn scheme' (p.a.y.e. scheme) ordinarily, under the scheme of the ..... along with those five partners one minor, shashikant mohanlal panchal, was admitted to the benefits of the partnership during the relevant period of assessment. subsequently, on .....

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