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Judgment Search Results Home > Cases Phrase: indian partnership act Court: income tax appellate tribunal itat nagpur Year: 1999 Page 1 of about 2 results (0.269 seconds)

May 31 1999 (TRI)

Assistant Commissioner of Income Vs. Shaktikumar M. Sancheti

Court : Income Tax Appellate Tribunal ITAT Nagpur

Decided on : May-31-1999

Reported in : (2000)73ITD194(Nag.)

..... held as under : "held that, in view of the clear finding of the tribunal that the partnership was both valid and genuine and since there was no legal bar to the formation of such partnership, the firm was entitled to registration under s. 26a of the indian it act, 1922, and such a firm cannot be denied registration merely because there would be some loss ..... supreme court's decision in the case of amritlal bhogilal & co.(supra) wherein it was held as under : "an order granting registration to a firm under s. 26a of the indian it act, 1922 merely affects or governs the procedure in collecting or recovering the tax found due from a firm and is separate from and independent of the order of assessment." 17 ..... the ao has taken decision after discussing the matter with the authorised representative of the assessee and after considering the application for registration, declaration and partnership deed, as the assessment order is framed after scrutiny under s. 143(3) of the act. the return of income and the status claimed therein were subjected to the scrutiny under s. 143(3) of the ..... act with reference to declaration in form no. 12, applications in form nos. 11 and 11a and partnership deed and the registration was granted after the ao was satisfied that application is in time and order and genuine firm has come into existence .....

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May 24 1999 (TRI)

Elite Developers Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Nagpur

Decided on : May-24-1999

Reported in : (2000)73ITD379(Nag.)

..... his contention : 15. the learned counsel for the assessee invited our attention to the definition of gift in s. 122 and also s. 123 of the partnership act and submitted that gift is not completed by the agreement deed. he also placed reliance on the departmental circular no. 346, dt. 30th june, 1982 and ..... gift is received have also purchased flats and rate of sale is the same as that of nris from whom gift is received as well as that of indian purchasers (p. 47) of the (paper book-ii) is also correct. no separate additions are made in respect of such amounts in other group of ..... have done so without examining the donors and in this case donors have not been examined.in this case the assessee received gift from two non-resident indians and furnished confirmatory letters from them. the assessee could not disclose the source of amount nor could establish the identity of the donors. the cash credit ..... para gifts received by shri s. n. patil, shri p. n. patil and shri d. n. patil from nre a/c's of the non-resident indians have been discussed and a conclusion has been drawn that the gifts are nothing but amounts received as on-money against sale of flats by the assessee. while coming ..... patil (father of shri parag d. patil partner). these gifts have been taken from the nre accounts maintained in india by the non-resident indians and have been taken in the indian currency. the observations and marks of the ao about these gifts in his order are as under : "(a) the relationship between the donor .....

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