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Judgment Search Results Home > Cases Phrase: indian partnership act Court: guwahati Year: 1991 Page 1 of about 7 results (0.024 seconds)

Aug 08 1991 (HC)

Commissioner of Income-tax Vs. Jhabarmal Agarwalla,

Court : Guwahati

Decided on : Aug-08-1991

..... law point involved is the same, that is the interpretation of section 2(23) and section 64(1) of the income-tax act, 1961, for short the 'act', and section 4 of the indian partnership act, 1932. 3. income-tax reference no. 13 of 1985 relates to the assessment year 1978-79, income-tax reference no. 3 ..... section 64 of the income-tax act, 1961, the assessee-individual was not the partner of the firm and whether the share of profits arising in the hands ..... , on the facts and in the circumstances of the case, and on a proper construction of section 4 of the indian partnership act, 1932, section 2(23) and section 64(1) of the income-tax act, 1961, the tribunal was justified in dismissing the departmental appeals impliedly holding the view that the share of profits from ..... application under section 256(2) of the act. by the said application the following question was sought to be referred to this court (at p. 420): 'whether, on the fads and in the circumstances of the case and on a proper construction of section 4 of the indian partnership act, 1932, section 2(23) and ..... of the tribunal. thus we find that no specific law was laid down regarding section 64 of the act regarding' the question as to whether the income of the wife/minor child from a partnership firm can be included in assessing the income of a person who was also a partner of the .....

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Aug 08 1991 (HC)

Commissioner of Income-tax Vs. 1. Jhabarmal AgarwallA. (i. T. R. No. 3 ...

Court : Guwahati

Decided on : Aug-08-1991

..... law point involved is the same, that is the interpretation of section 2(23) and section 64(1) of the income-tax act, 1961, for short the "act", and section 4 of the indian partnership act, 1932.income-tax reference no. 13 of 1985 relates to the assessment year 1978-79, income-tax reference no. 3 of ..... section 64 of the income-tax act, 1961, the assessee individual was not the partner of the firm and whether the share of profits arising in the hands ..... on the facts and in the circumstances of the case, and on a proper construction of section 4 of the indian partnership act, 1932, section 2(23) and section 64(1) of the income-tax act, 1961, the tribunal was justified in dismissing the departmental appeals impliedly holding the view that the share of profits from ..... application under section 256(2) of the act. by the said application the following question was sought to be referred to this court (at p. 420) :"whether, on the facts and in the circumstances of the case and on a proper construction of section 4 of the indian partnership act, 1932, section 2(23) and ..... of the tribunal. thus we find that no specific law was laid down regarding section 64 of the act regarding the question as to whether the income of wife/minor child from a partnership firm can be included in assessing the income of a person who was also a partner of the firm .....

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Aug 08 1991 (HC)

Commissioner of Income-tax Vs. Jhabarmal Agarwalla,

Court : Guwahati

Decided on : Aug-08-1991

..... law point involved is the same, that is the interpretation of section 2(23) and section 64(1) of the income-tax act, 1961, for short the 'act', and section 4 of the indian partnership act, 1932.3. income-tax reference no. 13 of 1985 relates to the assessment year 1978-79, income-tax reference no. 3 ..... section 64 of the income-tax act, 1961, the assessee-individual was not the partner of the firm and whether the share of profits arising in the hands ..... on the facts and in the circumstances of the case, and on a proper construction of section 4 of the indian partnership act, 1932, section 2(23) and section 64(1) of the income-tax act, 1961, the tribunal was justified in dismissing the departmental appeals impliedly holding the view that the share of profits from ..... application under section 256(2) of the act. by the said application the following question was sought to be referred to this court (at p. 420):'whether, on the fads and in the circumstances of the case and on a proper construction of section 4 of the indian partnership act, 1932, section 2(23) and ..... of the tribunal. thus we find that no specific law was laid down regarding section 64 of the act regarding' the question as to whether the income of the wife/minor child from a partnership firm can be included in assessing the income of a person who was also a partner of the .....

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Aug 06 1991 (HC)

Basantlal JaIn and Co. Vs. Commissioner of Income-tax

Court : Guwahati

Decided on : Aug-06-1991

..... , -the firm shall apply for fresh registration for the assessment year concerned in accordance with the provisions of the said section.9. section 30 of the partnership act, 1932, inter alia, provides that a person who is a minor according to the law to which he is subject may not be a partner in ..... to become a member and, if he does so, he is personally liable for all acts of the firm from the time he was admitted to the benefits of partnership. so, from the language of section 30 of the partnership act, in our opinion, it is clear that, after attaining majority, a person can admit even ..... is void. the above section 30, however, permits a minor being admitted to the benefits of partnership. we may quote here sub-section (5) and clause (a) of sub-section (7) of section 30 of the partnership act. '(5) at any time within six months of his attaining majority, or of his obtaining knowledge ..... income-tax officer, by an order dated june 5, 1984, took the view that, under the provisions of the partnership act, 1932, a minor cannot be made a full fledged partner, the above deed of partnership is void in law and, accordingly, he refused registration to the firm for the assessment year in question, i.e ..... . on the other hand, dr. sarma, learned counsel for the assessee, has urged that, considering section 30 of the partnership act, 1932, and as the account of the partnership business was to be taken at the close of the accounting year, there is no illegality. according to dr. sarma, after attaining .....

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Jan 31 1991 (TRI)

Rameshwar Prasad Goenka Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Guwahati

Decided on : Jan-31-1991

Reported in : (1991)37ITD112(Gau.)

..... also by the hon'ble madhya pradesh high court in the case of jagdish chandra grover v. cwt [1985] 156 itr 560, that under the indian law, a partnership firm is not a legal entity as the firm name is only a compendious way of describing the partners collectively. similar claim for exemption under section 5 ..... of properties vivifies and specifies such shares in separate ownership.12. for the purpose of computation of income under the income-tax act and in particular in respect of section 9 of the indian income-tax act, 1922, the hon'ble supreme court in the case of r.b. jodha mal kuthiala v. cit [1971] 82 ..... allowed in the hands of the partners though the property might have been owned by the partnership firm. this was after considering rule 2 of the wealth-tax rules read with section 2(m) of the wealth-tax act. in such cases, it was held that the firm is not an wealth-tax assessee and ..... the revenue, the analogy cannot be drawn as sought to be made out on behalf of the assessee. the present case is under the wealth-tax act and the provision regarding exemption has been specified. in fact the charging and machinery provisions of these two enactments are separate. in a slightly different situation ..... its normal ambit, an extended meaning on account of the special definition is to be found in explanation 2 to section 2(75) of the estate duty act. in this decision, the hon'ble supreme court has distinguished the earlier decision in the case of kancharla kesava rao (supra) at page 101, it was .....

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May 25 1991 (HC)

Commissioner of Income-tax Vs. United Brothers

Court : Guwahati

Decided on : May-25-1991

..... income-tax rules, 1962, that the application for registration, though required to be signed by all the partners (not being minors), was signed only by three partners and that the partnership is bad in law inasmuch as the artificial juridical person cannot be made liable to share the loss of the firm. in this connection, learned counsel has placed reliance in ..... the registration of the firm was cancelled by the income-tax officer which was also upheld by the appellate assistant commissioner, on the ground that, according to the deed of partnership an artificial juridical person, ganeshji maharaj, was made a full partner in the sense that the said person was not only to get profit but also to share the loss ..... ) the question that arose for consideration before the apex court was whether, on the facts of the case, the assessee is entitled to registration under section 26a of the indian income-tax act, 1922. on a perusal of the judgment, we are of the opinion that the ratio laid down in the above decision is not relevant for our present purpose, as ..... lower authorities were wrong in cancelling the registration of the assessee-firm under section 186 of the income-tax act, 1961 ?' 2. briefly stated, the facts are as follows : three persons formed a partnership which was duly registered under section 184 of the act. subsequently, the audit by the accountant-general objected to the grant of registration on the ground that an artificial .....

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Apr 03 1991 (HC)

Commissioner of Income-tax Vs. Premchand JaIn (Legal Representative of ...

Court : Guwahati

Decided on : Apr-03-1991

..... observed (p. 5) : 'it will thus be seen that according to this judgment, there was no obligation on the assessee to disclose that the partnership agreement produced by it was bogus and that the entries made by it in its books of account were false. the assessee discharged the obligation which lay ..... that principle ....' 27. it is thus clear that, in order to initiate proceedings for reassessment under clause (a) of section 147 of the act, it is necessary for the income-tax officer to be satisfied that the assessee had failed to disclose fully and truly all material facts necessary for ..... reproduced above, it is clear that, to confer jurisdiction on the income-tax officer under the provisions of clause (a) of section 147 of the act, to initiate proceedings for reassessment, two conditions have to be satisfied. firstly, he must have reason to believe that income chargeable to tax has escaped ..... at the time of the original assessment and, as such, there was no justification for initiation of proceedings under section 147(a) of the act for reassessment. 6. the tribunal considered the rival submissions and found that, during the assessment year 1958-59, the assessee borrowed various amounts from ..... parties. proceedings under section 147 for reassessment of the income for this year also were initiated by issue of notice under section 148 of the act. this notice was also served on the legal representative of the assessee, hereinafter 'the assessee', on march 21, 1968. the assessee objected to .....

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