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Judgment Search Results Home > Cases Phrase: indian partnership act Court: income tax appellate tribunal itat amritsar Year: 1999 Page 1 of about 2 results (0.413 seconds)

Jul 16 1999 (TRI)

income Tax Officer Vs. Mohinder Singh Davinder Singh and

Court : Income Tax Appellate Tribunal ITAT Amritsar

Decided on : Jul-16-1999

Reported in : (2000)73ITD448(Asr.)

..... letting out of a building and realising rents therefrom did not amount to carrying on of business. it was incidental to ownership. the expression used in s. 4 of the indian partnership act, 1932, are "agreed to share the profits of a business carried on by all or any of them", which implied the existence of a business. there was no business in ..... , 1987, the same was let out to fci on rent. the words 'firm', 'partner' and 'partnership deed' are not defined in the it act, 1961 but sub-s. (2) of s. 2 says they have the same meaning as assigned under the indian partnership act. sec. 4 of the partnership act defined "partnership as "partnership" is the relation between persons who have agreed to share the profits of a business ..... definition that partnership involves an agreement to carry on business. the expression "business" is ..... carried on by all or any of them acting for all". it is seen from this .....

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Dec 06 1999 (TRI)

Shanker Rice Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Amritsar

Decided on : Dec-06-1999

Reported in : (2000)72ITD139(Asr.)

..... the profit estimated and which was done by the authorities on the basis of the performance of the predecessor-interest of the assessee, namely, the partnership firm. apart from this, the tribunal had before it the disclosed turnover of the assessee and there was ample material once again before the tribunal ..... of 'public documents' which may be admitted as these were relevant to the issue. according to the ld.d.r., technical rules of the indian evidence act would not apply and he in fact sought to invoke rule 29 of the appellate tribunal rules.21. the ld. d.r. also opposed the ..... noticed at this stage that the milling of paddy and the sale of rice were controlled in the assessment year 1958-59 under the essential supplies act and the stocks in the possession of rice dealers and millers were from time to time checked by the food and civil supplies department. the district ..... it was also the further submission that the trade was regulated by the market committee concerned which was a requirement of the punjab agricultural produce markets act, 1961.12. the ld. counsel further stated that the assessing officer at page 3 of the assessment order referred to the figures of paddy ..... submission that milling of paddy had taken place even on sundays and gazetted holidays. further, the maintenance of attendance register was necessary under the factories act. on the basis of the aforesaid facts, the assessing officer applied proviso to section 145(1) on the ground that the correct profits could not .....

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