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Judgment Search Results Home > Cases Phrase: indian partnership act Court: guwahati Year: 1987 Page 1 of about 1 results (0.019 seconds)

Sep 03 1987 (TRI)

income-tax Officer Vs. Tuli Veneer Plywood Industries

Court : Income Tax Appellate Tribunal ITAT Guwahati

Decided on : Sep-03-1987

Reported in : (1988)24ITR345(Gau.)

..... not entitled to registration as it makes the minor liable for the losses during the period km. sangita remained a minor. in this context, he referred to mukherjee's indian partnership act, 1976, edition, pages 249-251.5. in reply, the assessee's learned counsel supporting the aac's order brought to our notice the recitation made in the deed that an ..... previous year next after the date of attaining majority could be granted registration under section 185(1)(a). it was held that under the provisions of the partnership act, a minor admitted to the benefits of partnership had two options open to him on attaining majority ; (i) he should either elect to become a partner in the firm, or (ii) he should repudiate ..... registration having been found to be in order, the requirements of section 185(1)(a) of the income-tax act, 1961 ('the act'), had been satisfied.6. the partnership deed as available from the ito's records reveal that as per oral agreement a partnership was formed w.e.f. 1-1-1981. the recital to that effect reads as follows : whereas the partners ..... hereto to the first part to fifth part made an oral agreement and formed a partnership between themselves with effect from .....

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