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Judgment Search Results Home > Cases Phrase: indian partnership act Court: income tax appellate tribunal itat mumbai Year: 1991 Page 1 of about 3 results (0.052 seconds)

Dec 02 1991 (TRI)

Empire Estate Vs. Third Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Dec-02-1991

Reported in : (1992)41ITD23(Mum.)

..... also. it follows that under the income-tax act, a firm is treated as a distinct and separate entity, different from the partners constituting it ..... description of the partners carrying on the business. but for taxing purposes 'a partnership firm' is treated as an entirely distinct, from the persons who constitute the 'firm'. section 2(23) gives the same meaning to the expressions "firm", "partner" and "partnership" as are respectively assigned to them in the indian partnership act, 1932. section 2(31) lays down that a "person" includes a firm ..... .13. where a firm is dissolved either by operation of law or by act of parties and is succeeded ..... assessment years 1977-78,1978-79 and 1979-80. for the sake of convenience, these are consolidated together and disposed of by a common order.2. the assessee is a partnership firm comprising of two partners, viz., shri r.k. mody and miss m.k. mody having equal shares (hereinafter called the "new firm").3. shri r.k. mody and miss .....

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Sep 19 1991 (TRI)

Raghavji Anandji and Co. Vs. Third Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Sep-19-1991

Reported in : (1992)40ITD130(Mum.)

..... proposition of the learned counsel for the assessee that no change in the constitution of the firm had taken place because of clause 7 of the partnership deed. after a reading of that clause we find no hesitation in observing that the underlined portion of clause 7 reading as "and such ..... shall inquire into the genuineness of the firm and its constitution as specified in the instrument of partnership, and -- (a) if he is satisfied that there is or was during the previous year in existence a genuine firm with the constitution so ..... subsequent assessment year: (i) there is no change in the constitution of the firm or the shares of the partners as evidenced by the instrument of partnership on the basis of which the registration was granted. 185 (1) on receipt of an application for the registration of a firm, the assessing officer ..... contention made was that there was no change or alteration either in the constitution or individual shares of the partners as specified in the instrument of partnership on the basis of which the registration had already been granted to it in the earlier years and, therefore, the income-tax officer was bound ..... cited before the learned first appellate authority, who has discussed it in good length and held that that decision rendered in the context of the indian income-tax act, 1922, did not offer any material help to the assessee.we have gone through the relevant part of the impugned order and see no reason .....

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Aug 19 1991 (TRI)

Khetshi K. Haria Vs. Fourth Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Aug-19-1991

Reported in : (1992)40ITD167(Mum.)

..... to the proceedings under section 132 and in response to such a notice, the assessee disclosed in the various returns filed, income from business, partnership firm and filed income which the assessee had not disclosed earlier in the first return.11. it would appear to us that instructions given by ..... the cbdt had a binding force on the officers and persons employed in the execution of the act under section 5(8) of the indian income-tax act, 1922, corresponding to section 119 of the income-tax act, 1961 and they were bound to give effect to the circular.9. shri doshi also ..... and ending with the assessment may be taken as relevant, considering the assessee's liability for penalty under section 28(1)(c) of the old act.19. in our opinion, the third return satisfies the conditions lald down in the amnesty circulars. there is no evidence of detection of concealment by ..... concealing income on his part and the incorrect return, which was initially filed, was sought to be rectified by its subsequent disclosure which was noted and acted upon by the ito. the court, therefore, justified cancellation of the penalty by the tribunal.5. shri doshi referred to the various circulars of ..... assessee. however, nothing incriminating was found either at the residence or at the business premises and, apparently, no order under section 132(5) of the act was, therefore, passed consequent to this search and seizure operation.3. in response to notice under section 148, the appellant filed his return showing income .....

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