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Judgment Search Results Home > Cases Phrase: indian partnership act Court: guwahati Year: 1960 Page 1 of about 1 results (0.023 seconds)

Feb 18 1960 (HC)

Chouthmal Kejriwal Vs. Commissioner of Income-tax, Assam.

Court : Guwahati

Decided on : Feb-18-1960

..... minors, whether they needed them or not."at another place (at page 527) it was observed as follows :"if one were to look at the partnership act, under section 13 (d) a partner is entitled to receive 6 per cent. if he brings into the firm any moneys beyond what he is ..... to bring in moneys into the firm or to contribute any capital. therefore even independently of the partnership deed they would be entitled to 6 per cent. interest under section 13 (d) of the partnership act."these observations, therefore, make it clear that the ratio of the decision of that case was that ..... as there was no obligation on the minors, being admitted to the benefits of the partnership, to necessarily make a deposit, the deposits could not ..... when they are getting interest on their capital, are getting it on any other consideration except that they have been admitted to the benefits of the partnership. reference was then made to the case of popatlal bhikamchand v. commissioner of income-tax. that case, to my mind, is distinguishable from the ..... the income-tax appellate tribunal, calcutta bench, under section 66 (1) of the indian income-tax act (hereinafter called "the act") :"whether on a proper construction of the provision of section 16 (3) (a) (ii) of the indian income-tax act the interests earned by the minor sons of the assessee were liable to be .....

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