Skip to content


Judgment Search Results Home > Cases Phrase: indian partnership act Court: income tax appellate tribunal itat delhi Year: 1999 Page 1 of about 3 results (0.072 seconds)

Nov 08 1999 (TRI)

Bki/Ham V. O. F. C/O Arthur Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Nov-08-1999

..... by the assessee against the order dt. 8th january, 1999 of cit(a), dehradun, pertains to the asst. yr.1995-96.2. the assessee is partnership firm consisting of boskalis international b.v. (bki) and holland annemingamatt shapig netherland incorporated on 24th november, 1993, in netherlands with limited liability.3. the ..... 271(1)(c) of the act for concealment of income and for furnishing inaccurate particulars of income.8. the learned cit(a) disposed ..... s. 49e can be reconciled with ss. 228 and 229 by holding that s. 49e applies when insolvency rules do not apply." 29. in cit vs. indian molasses co. (p) ltd. (1989) 176 itr 473 (cal), it was held that when there is a general enactment as well as a special enactment ..... provision".28. similarly, in meteor satellite ltd. vs. ito (1979) 121 itr 311 (guj), this principle was followed. again, in union of india & anr. vs.indian fisheries (p) ltd. (1965) 57 itr 331 (sc) it was held at p. 334 : "the effect of these statutory provisions is, inter alia, that an unsecured ..... appellant maintained a pe in india in accordance with the provisions of the indian netherlands dtaa. (3) in applying the tax rate applicable to a foreign company to the appellant v.o.f. instead of the tax rate applicable to a partnership firm. (5) in initiating penalty proceedings against the appellant under s. .....

Tag this Judgment!

Nov 08 1999 (TRI)

Jagan Nath Sayal Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Nov-08-1999

Reported in : (2000)72ITD1a(Delhi)

..... exchange. after the share-broker's death, such joint shareholder will be deemed to be registered share-holder by survivorship. under article 31, the shareholder has right to enter into partnership with any number of his near relations, who are all enumerated in the said article, without their acquiring individual membership of the exchange and the qualifying share of dse. such ..... its partners or members, shall be allocated amongst them in the proportion of their capital contribution. according to clause (ii), the residue is allocated in accordance with the agreement of partnership or association for the distribution of assets in the event of dissolution and in the absence of any such agreement, in the profit-sharing ratio.sum total of amounts allocated ..... be considered sufficient to qualify the constituent member as member of the exchange.shri bajpai pointed out that three significant points emerge from out of the provisions allowing formation of partnership : (1) close relations is eligible for membership in all respects, provided that he possesses all the qualifications which are required for becoming a member, (2) the only concession provided ..... same into effect with full powers nevertheless at any time and from time to time to agree to any modification thereof subject to the provisions of section 99 of the indian companies act, 1913. the authorised share capital of the dse was rs. 8,00,000 divided into 400 shares of rs. 2000 each.12. the learned standing counsel continuing his .....

Tag this Judgment!

Aug 31 1999 (TRI)

Ashok Soi Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Aug-31-1999

Reported in : (2000)74ITD235(Delhi)

..... in his hands but if it is not his income then it cannot form part of his assessable income. the scope s. 16(1)(c) of the indian it act, 1922, came up for consideration by this court in cit vs. sitaldas tirathdas. therein, the assessee, sitaldas tirathdas of bombay had many sources of income, chief ..... settlement showed that the profits were first to accrue to the assessee and were then applied for payment to the beneficiaries; (ii) that under the law of partnership, it was the partner and the partner alone who was entitled to the profits. a stranger, even if he were on assignee, did not have and ..... another partner a new partnership was formed on 1st april, 1975, providing, inter alia, that a sum representing 25 per cent of profit would be charged to p&l a/c ..... there would be a diversion of income by overriding charge. income - diversion of by overriding title - m had a share of 25 per cent in a partnership firm constituted in 1961. in event of an outgoing partner, other partners had option to purchase his/her share with retirement of a partner and death of ..... soi or anyone else had or would have any right, title or interest in this property. in this award, a reference of deed of dissolution of the partnership business in the name of champion neonsign at 16, british india street, calcutta, with branches at bombay, delhi and calcutta was also given and it was .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //