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Judgment Search Results Home > Cases Phrase: indian partnership act Court: guwahati Year: 1996 Page 1 of about 13 results (0.039 seconds)

May 31 1996 (HC)

J.D. Enterprises Vs. Commissioner of Income-tax

Court : Guwahati

Decided on : May-31-1996

..... clause, it is abundantly made clear that the minor was admitted to the benefits of the firm and his rights and liabilities should be governed by section 30 of the indian partnership act and under section 30, a minor cannot be saddled with liabilities and he is not required to share losses though in clause (5), it has been mentioned, 'the profits and ..... .9. before we consider the rival contentions of the parties, it will be apposite to examine the deed of partnership and also to look to some of the relevant provisions of the indian partnership act as well as the income-tax act. we find the deed of partnership at pages 36 to 39 of the paper book. in the said deed, it has been recited as ..... firm to the extent of his share in the firm as per the provisions of sub-section (3) of section 30 of the indian partnership act. the appellate tribunal found that the deed was valid inasmuch as the said deed of partnership specified the shares of the partners in losses. the appellate tribunal, however, found that it was unable to accept the assessee's ..... such shares of profits as has been provided in this instrument with all the rights and liabilities as per section 30 of the indian partnership act. in clause (5) of the deed of partnership it has been recited that the profits and losses of the partnership business shall be divided and borne by the parties in equal proportions after adjustment of all expenses of the .....

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Jun 03 1996 (HC)

Commissioner of Income-tax Vs. Raghubirdayal Agarwalla

Court : Guwahati

Decided on : Jun-03-1996

..... is a partner in a partnership firm representing his hindu undivided family in which firm, his wife is also a partner, the ..... filed by the revenue under section 256(2) of the income-tax act, 1961 (for short, 'the act') : '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, and sections 2(23) and 64 of the income-tax act, 1961, the tribunal was justified in holding impliedly that when an individual ..... gone through the decisions. in cit v. shri om prakash : [1996]217itr785(sc) , the apex court held (page 798) : '. . . . we hold that where a person is a partner in a partnership firm not in his individual capacity but as the karta of the hindu undivided family, neither the income accruing to his wife on account of her being a partner in ..... assessment year in question. being aggrieved, the revenue approached the tribunal by filing an appeal and the tribunal rejected the appeal. therefore, an application under section 256(1) of the act was filed by the revenue for referring the question for opinion of this court. however, the tribunal refused to make the reference holding that there was no referable question. situated .....

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Aug 29 1996 (HC)

Mahabir Coke Industry and anr. Vs. Pollution Control Board and ors.

Court : Guwahati

Decided on : Aug-29-1996

..... till receipt of consent from the pollution control board and to pay salaries and wages to employees and workmen.2. the appellant no. 1 is a firm registered under the indian partnership act. the firm established a coke manufacturing factory with three units. at the time of establishment of the factory the appellant firm requested the pollution control board, assam (for short, ..... of the industrial unit of the appellant-firm was emitting obnoxious pollutant substance causing air pollution. however, the learned single judge did not consider the relevant provisions of the act regarding the standard prescribed. it was the duty of the board to prescribe the standard after taking into consideration the health hazard etc. limit has to be prescribed before ..... notification which reads as under : 'the central pollution control board in exercise of its power conferred under section 16(2)(b) of the air (prevention and control of pollution) act, 1981 (14 of 1981) hereby notify the national ambient air quality standards with immediate effect.'this notification is not with regard to emission of air pollutants. therefore, taking all these ..... when standard is prescribed. for that purpose also the board is also required to analyse the sample as may be taken in the manner prescribed under section 26 of the act. besides, for the purpose of analysis, laboratories are required to be established or recognised. mr, saikia very candidly informs this court that he has no instruction regarding establishment .....

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Sep 04 1996 (HC)

Khandelwal Constructions Vs. Commissioner of Income-tax

Court : Guwahati

Decided on : Sep-04-1996

..... s income from undisclosed sources by the revenue within the meaning of section 68 of the income-tax act, 1961 ?' 2. we may state the following facts : the assessee, a firm registered under the indian partnership act, carried on the business of contract work. the questions relate to the assessment year 1981-82. an ..... were returned unserved. in the previous assessment year, the address of these creditors has been shown as c/o r.d. sharma and co., another partnership-firm. it may be mentioned here that r.d. sharma and co. was also an assessee. the notices were issued through process server with remarks ..... as income from other sources. the satisfaction of the assessing officer is the basis of invocation of the powers under section 68 of the act and the satisfaction must be derived from relevant factors on the basis of proper enquiry. the enquiry envisaged under section 68 is an enquiry which ..... on the rival contentions of learned counsel, it is to be seen whether the tribunal's order is just and proper. section 68 of the act empowers the assessing officer to make enquiry specifically satisfied regarding the cash credit. if he is satisfied that these entries are not genuine he has ..... the transactions. accordingly, notice was issued to the assessee to satisfy the assessing officer about the transactions invoking the power under section 68 of the act. pursuant to that, the confirmation letters had been produced by the assessee. the assessee also gave the gir numbers of the creditors inasmuch as .....

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Jun 17 1996 (HC)

Commissioner of Income Tax Vs. India Tea and Timber Trading Co.

Court : Guwahati

Decided on : Jun-17-1996

..... this court.2. the facts for the purpose of answering the said questions may be stated as follows :the assessee is a firm registered under the indian partnership act. the firm follows the mercantile system of accounting. its main source of income consists of purchase and sale of sugarcane and lorry hire receipts. the ao ..... expressed by the apex court on the view taken by the various high courts on the expression 'used' appearing in s. 10(2)(vi) of the indian it act, 1922, to give it a wider meaning so as to include active as well as passive user. however, the said view had also not been set ..... business was not on account of its incapacity for being used for that purpose or its non-availability. the language used in r. 8 of the indian it rules, 1922, was not inconsistent with the interpretation. it was further held that so far as the allowance for normal depreciation allowance was concerned, ..... used for the purposes of business or profession. the meaning of the expression 'used' appearing in sub-s. (1) of s. 32 of the act was very relevant for the purpose of granting deduction. it was clear that the expression 'used' meant actual use and passive use was not contemplated in this ..... that unless the machinery was actually used deductions were not allowable. in this regard, mr. joshi drew our attention to s. 32(1) of the act and contended that the section itself was very clear that for claiming deduction for depreciation of buildings, machinery, plant or furniture owned by the assessee those .....

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Jun 17 1996 (HC)

Commissioner of Income-tax Vs. India Tea and Timber Trading Co.

Court : Guwahati

Decided on : Jun-17-1996

..... court. 3. the facts for the purpose of answering the said questions may be stated as follows : the assessee is a firm registered under the indian partnership act. the firm follows the mercantile system of accounting. its main source of income consists of purchase and sale of sugarcane and lorry hire receipts. the assessing ..... by the apex court on the view taken by the various high courts on the expression 'used' appearing in section 10(2)(vi) of the indian income-tax act, 1922, to give it a wider meaning so as to include active as well as passive user. however, the said view had also not been ..... business was not on account of its incapacity for being used for that purpose or its nonavailability. the language used in rule 8 of the indian income-tax rules, 1922, was not inconsistent with that interpretation. it was further held that so far as the allowance for normal depreciation allowance was ..... used for the purposes of business or profession. the meaning of the expression 'used' appearing in sub-section (1) of section 32 of the act was very relevant for the purpose of granting deduction. it was clear that the expression 'used' meant actual use and passive use was not contemplated ..... unless the machinery was actually used deductions were not allowable. in this regard, mr. joshi drew our attention to section 32(1) of the act and contended that the section itself was very clear that for claiming deduction for depreciation of buildings, machinery, plant or furniture owned by the assessee .....

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Jun 17 1996 (HC)

Commissioner of Income Tax Vs. India Tea and Timber Trading Co.

Court : Guwahati

Decided on : Jun-17-1996

Reported in : (1997)137CTR(Gau)334

..... this court.2. the facts for the purpose of answering the said questions may be stated as follows :the assessee is a firm registered under the indian partnership act. the firm follows the mercantile system of accounting. its main source of income consists of purchase and sale of sugarcane and lorry hire receipts. the ao ..... expressed by the apex court on the view taken by the various high courts on the expression 'used' appearing in s. 10(2)(vi) of the indian it act, 1922, to give it a wider meaning so as to include active as well as passive user. however, the said view had also not been set ..... business was not on account of its incapacity for being used for that purpose or its non-availability. the language used in r. 8 of the indian it rules, 1922, was not inconsistent with the interpretation. it was further held that so far as the allowance for normal depreciation allowance was concerned, ..... used for the purposes of business or profession. the meaning of the expression 'used' appearing in sub-s. (1) of s. 32 of the act was very relevant for the purpose of granting deduction. it was clear that the expression 'used' meant actual use and passive use was not contemplated in this ..... that unless the machinery was actually used deductions were not allowable. in this regard, mr. joshi drew our attention to s. 32(1) of the act and contended that the section itself was very clear that for claiming deduction for depreciation of buildings, machinery, plant or furniture owned by the assessee those .....

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Dec 17 1996 (HC)

Garodia Hardware Store and Etc. Vs. Nimodia Plantations and Industries ...

Court : Guwahati

Decided on : Dec-17-1996

..... petitions have been filed under section 433(e) and (f) read with section 434(1)(a) and (c) and section 439 of the companies act, 1956, for short, 'the act'. all the petitioners are firms, registered under indian partnership act having their principal place of business at golaghat in the district of golaghat (jorhat). the respondent, viz. nimodia plantations and industries pvt. ltd. ..... for short 'the company' is a private limited company incorporated under the act having its head office at a.t. road, bokaghat in the district of jorhat.3. the ..... 20. in india agreement to sale by itself does not create any interest on the property. there may, however, be a charge only. english law differs from section 54. indian law does not recognise legal and equitable estate as held by privy council in chhatrakumari v. mohanbikram, air 1931 pc 196. therefore, the position of the respondents nos. 2and ..... amongst it, there are individuals, with rights, expectations and obligations inter se which are not necessarily submerged in the company structure. such structure is defined by the companies act and the articles of association by which shareholders agree to be abide by. this is applicable in most of the companies and this definition is sufficient and exhaustive, applicable to .....

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Aug 05 1996 (HC)

Commissioner of Income-tax Vs. R.C. Construction

Court : Guwahati

Decided on : Aug-05-1996

..... is an industrial undertaking and in that view of the matter in granting it investment allowance under section 32a.'2. the assessee is a firm registered under the indian partnership act. the firm carried on business of converting big boulders into quartz and small chips with the help of plant and machinery particularly, the crusher. during the ..... . 45,358 was also erroneous. in this connection, mr. bhuyan has submitted that in order to get benefit of section 32a(1) and (2) of the act, there must be a manufacturing process as it is generally understood. he submits that making chips from big boulders cannot be said to be a manufacturing process, it ..... relevant assessment year 1983-84, the assessee-firm claimed investment allowance for rs. 45,358 under section 32a of the act on stone crusher claiming to be an industrial undertaking. but the assessing officer under the provisions of sections 32a(1) and 32a(2) of the ..... amount to a manufacturing process and, therefore, the assessee is entitled to the investment allowance as envisaged under section 32a of the income-tax act, 1961.10. in view of the above, we answer the question in the negative and in favour of the assessee and against the revenue. ..... act held that the stone crusher would not come in the category of machinery or plant and also, it was further held by the assessing officer .....

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Feb 01 1996 (HC)

Commissioner of Income-tax Vs. Smt. Savitri Devi Dhandharia

Court : Guwahati

Decided on : Feb-01-1996

..... every year and also profits in some years. this indicates that this was either a loan or deposit. as per section 13(c) of the partnership act, partners are entitled to receive interest on the capital subscribed by them only out of profits. from the accounts it is clear that dividends had been ..... partner or to the minors who had been admitted tothe benefits of the partnership. it is thus clear that the interest at leastindirectly arose and accrued to the wife and the minor sons because oftheir capacity mentioned in section ..... not change.they did not got converted into deposits or loans. they still remainedaccumulations belonging to a partner or persons admitted to the benefitsof the partnership and allowed to be used by the firm. the interest alsoappears to have been allowed by the firm simply because these fundsbelonged either to a ..... the money of the minor should be kept with the firm and hence the interest derived cannot be regarded as part of the benefits of the partnership. 8. the tribunal upheld the order of the appellate assistant commissioner and dismissed the revenue's appeals. the revenue, therefore, requested the tribunal to ..... so allowed was assessable in the hands of the appellant under section 16(3)(a)(i) and (ii) of the indian income-tax act, 1922, now corresponding to section 64(1)(iii) of the act. in the said case, the apex court held thus (page 276) : ' it appears to us that these accumulated .....

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