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Judgment Search Results Home > Cases Phrase: indian partnership act Court: kerala Year: 1999 Page 1 of about 8 results (0.025 seconds)

Nov 01 1999 (HC)

Commissioner of Income Tax Vs. Paily Pillai and Co.

Court : Kerala

Decided on : Nov-01-1999

Reported in : (2000)160CTR(Ker)455

..... assessee, clause (5) had application to the facts of the case because claim was lodged on 15-10-1973. sec. 47 of the indian partnership act, 1932 (hereinafter referred to as 'the partnership act') provides that on the dissolution of a firm, authority of each partner to bind the firm, and the other mutual rights and obligation of ..... the time of dissolution. clause (5) of the deed of dissolution relates to further work, if any, in respect of business carried on by the partnership. it is evident that arbitration award was in respect of the work already done prior to dissolution of the firm. only claim was made subsequent to the ..... do or to be got done at his own expense further work, if any, required to be done in respect of the business carried by our partnership and that the said sri paily pillai alone shall be entitled to or liable for the profits or losses, as the case may be, of the ..... by tribunal. clauses (4) and (5), which are relevant, read as follows :'a. it is hereby mutually agreed that the work done by the partnership between the parties hereto till the close of the business on the 30-9-1970 have been fully measured and values thereof duly accounted.5. it is hereby ..... case of discontinued business and it cannot apply to a succession to the firm. accordingly, tribunal nullified the assessment. application under section 256(1) of the act filed by revenue was rejected. pursuant to the direction given by this ,'-'curt, question, as set out above, has been referred to this court.3. .....

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Nov 01 1999 (HC)

Commissioner of Income-tax Vs. Paily Pillai and Co.

Court : Kerala

Decided on : Nov-01-1999

Reported in : [2000]243ITR557(Ker)

..... the assessee, clause 5 had application to the facts of the case because the claim was lodged on october 15, 1973. section 47 of the indian partnership act, 1932 (in short, 'the partnership act'), provides that on the dissolution of a firm, authority of each partner to bind the firm, and the other mutual rights and obligation of ..... the time of dissolution. clause 5 of the deed of dissolution relates to further work, if any, in respect of the business carried on by the partnership. it is evident that the arbitration award was in respect of the work already done prior to the dissolution of the firm. the only claim was ..... do or to be got done at his own expense further work, if any, required to be done in respect of the business carried by our partnership and that the said sri paily pillai alone shall be entitled to or liable for the profits or losses, as the case may be, of the ..... by the tribunal. clauses 4 and 5, which are relevant, read as follows :'4. it is hereby mutually agreed that the work done by the partnership between the parties hereto till the close of the business on the 30th day of september, 1970, have been fully measured and values thereof duly accounted. 5 ..... the person who carried on the business had such sum been received before such discontinuance.' 5. the said provision was introduced by the taxation laws (amendment)act, 1975, with effect from april 1, 1976. this provision, inter alia,provides that any sum received after the discontinuance of a business is,for and .....

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Dec 18 1999 (HC)

Commissioner of Wealth-tax Vs. M.K. Abdul Khader Haji (Decd.)

Court : Kerala

Decided on : Dec-18-1999

Reported in : [2000]242ITR728(Ker)

..... march 31, 1984, and that of plant and machinery including electrical installations at rs. 13,66,200. the assessee, being a partner in the said partnership firm, the assessing officer computed the value of the assessee's share in the interest of the firm and consequently enhanced the returned figure of wealth ..... a citizen of india, was a resident of kuwait for a long time. he is a partner in haji m. k. abdul khader and co., a partnership firm, which runs a hotel called 'paramount tower' in calicut. the valuation officer determined the fair market value of the hotel building at rs. 86, ..... with two explanations, clarificatory notes on clauses show that under the pre-existing provisions, in the case of an assessee being a permanent person of indian origin or a citizen of india who has returned to india with the intention of permanently residing in india, the moneys and the value of assets ..... such assets shall not be included in the net wealth, of the assessee--. . . .(xxxiii) in the case of an assessee, being a person of indian origin who was ordinarily residing in a foreign country and who, on leaving such country, has returned to india with the intention of permanently residing therein, moneys ..... year 1977-78 and subsequent years.5. the assets, etc., brought into india, by persons of indian origin or by citizens of india--section 5(l)(xxxiii). section 5(l)(xxxiii), newly inserted by the finance act, 1976, with effect from april 1, 1977, grants exemption, for and from the assessment year 1977 .....

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Sep 25 1999 (HC)

Sasidhara Shenoy and Bros. Vs. Deputy Commissioner of Income Tax and a ...

Court : Kerala

Decided on : Sep-25-1999

Reported in : (1999)157CTR(Ker)440

..... in accordance with the decision of the full bench of this court cit v. hotel luciya : [1998]231itr492(ker) .2. petitioner in this case is a partnership firm under the name and style m/s sasidhara shenoy & bros. it is conducting a theatre. the first respondent assessing officer, for the asst. yrs. 1984 ..... applicable to a plant. the revenue did not accept the decision of the tribunal. accordingly, a reference was made to this court under section 256 of the indian income tax act. the reference was disposed of by judgment dt. 3rd sept., 1996, in it ref. nos. 100 and 101 of 1992 (reported as cit v. sasidhara ..... is whether on the basis of the full bench decision can the tribunal compel to change its judgment under section 260(1) of the income tax act, which is stated thus'the high court or the supreme court upon hearing any such case shall decide the. questions of law raised therein, and shall ..... this view of the matter, we hold that the order passed by the tribunal on 19th may, 1997, under section 260(1) of the income tax act, does not suffer from any mistake apparent on record warranting rectification.'4. shri p.g.k. wariyar appearing for the petitioner submitted that it is axiomatic ..... depreciation applicable to the buildings. pursuant to the answer given by this court, the second respondent gave effect to it under section 260 of the income tax act by order dt. 19th may, 1997.3. it appears that subsequently, the full bench considered the question whether a theatre was a plant and by judgment .....

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Feb 11 1999 (HC)

Ouseph Mathew and Co. Vs. Income Tax Officer and ors.

Court : Kerala

Decided on : Feb-11-1999

Reported in : (1999)153CTR(Ker)81

..... was pending. at that stage, the petitioner filed a petition before the settlement commissioner to have the case settled in terms of s. 245c of the indian it act. the settlement commissioner by order dt. 25th jan., 1991 cancelled the registration given to the petitioner for the asst. yrs. 1975-76 and 1976-77 ..... 1987, cancelling the registration is one without any authority, power or jurisdiction.3. the contention of the department is that chapter xix-a of the it act is in the nature of self-contained chapter and the applications filed under s. 245c will be disposed of as per the provisions of that chapter and ..... 1st march, 1979, i.e., on or before 31st march, 1987. this is made clear in the first proviso to s. 186(1) of the it act. hence, the contention is that the order passed by the settlement commissioner in the year 1991 long after which is the last date, viz., 31st march, ..... under the provisions of s. 184(7) of the act. however, in the said order the settlement commissioner granted immunity from prosecution to the petitioner-firm and held that no penalty need be imposed under s. 271 ..... a.s. venkatackala moortry, j.:the petitioner is a partnership firm. it was assessed to income-tax for the first time for the asst. yr. 1974-75 granting registration to it under s. 185 of the it act by order dt. 6th march, 1975. subsequently, assessments were completed for the years 1975-76, 1976-77 .....

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Mar 29 1999 (HC)

Cambatta Aviation Ltd. and ors. Vs. CochIn International Airport Ltd. ...

Court : Kerala

Decided on : Mar-29-1999

Reported in : AIR1999Ker368

..... to outline in detail air india's ground handling capabilities, the package of services which they wish to offer and other relevant including the financial details of a partnership which they proposed to the cial.thereafter, in paragraph 3 the conditions under which they accepted the offer are stated. the above letter shows that after the meeting ..... the fifth respondent is the air india employees' guild.2. the first appellant (hereinafter referred to as 'the cambatta aviation limited') is a company incorporated under the indian companies act and is providing ground handling services to various airlines and has been operating as such at mumbai and delhi airports for more than three decades. cochin international airport limited, ..... burjor nicholson, a shareholder of the first appellant company. first respondent in the appeal is the cochin international airport limited, which is a company incorporated under the indian companies act and which has been formed for the purpose of setting up international airport at nedumbassery near cochin. the second respondent is the state of kerala and the third ..... as technical competence, organisational capacity and past experience in ground handling. so far as cambatta aviation and air india are concerned, they have proved adaptability for operating in indian conditions. no doubt, the committee decided to recommend cambatta aviation for undertaking the ground handling services. thus, we find that the evaluation committee had considered all aspects of .....

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Nov 01 1999 (HC)

Commissioner of Income-tax Vs. A. Sreenivasa Pai

Court : Kerala

Decided on : Nov-01-1999

Reported in : (2000)160CTR(Ker)216; [2000]242ITR29(Ker)

..... return filed by the assessee admitting a higher income could penalty ?'2. the factual position as set out in the statement of case is as follows : the assessee is a partnership firm carrying on business in provision goods, rice, sugar, etc. for the assessment year 1987-88, the return of income on behalf of the firm was filed on june 29 ..... the onus of rebuttal is on the assessee. the rationale behind this view is that the basic facts are within the special knowledge of the assessee. section 106 of the indian evidence act, 1872, gives statutory recognition to this universally accepted rule of evidence. there is no discretion conferred on the assessing officer as to whether he can invoke the explanation or ..... is the case where conclusions of the tribunal suffer from infirmity on account of relevant materials and evidence being ignored.9. a conspectus of the explanation added by the finance act, 1964, and the subsequent substituted explanations makes it clear that the statute visualised assessment proceedings and penalty proceedings to be wholly distinct and independent of each other. in essence, an ..... , or (b) has furnished inaccurate particulars of such income. the expressions 'has concealed' and 'has furnished inaccurate particulars' have not been defined either in the section or elsewhere in the act. however, notwithstanding differences in the two circumstances, they lead to the same effect, viz., keeping off a certain portion of the income. the former is direct while the latter may .....

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Jul 02 1999 (HC)

Reji Michael Vs. Vertex Securities Ltd. and anr.

Court : Kerala

Decided on : Jul-02-1999

Reported in : 2000(1)ALT(Cri)55; 1999CriLJ3787

..... . cannot lie in this case since the complainant is a public limited company which is not a natural but juristic person and the offence is alleged against the 1st accused partnership firm which is also not a natural but juristic person. according to him, in order to attract the provisions of cheating under section 415, i.p.c. there must be ..... of that order so far no investigation is conducted by the police in this case.4. the complaint is filed by the 1st respondent, a public limited company against the partnership firm as the 1st accused and its partners-accused 2 and 3 alleging that accused 2 and 3 are partners of the 1st accused firm and they were in charge ..... argument advanced by the counsel for the petitioner, has no application to the facts of this case. in that case a partnership firm along with its partners were prosecuted for the offence punishable under section 10 of the essential commodities act and they were convicted and sentenced for that offence. when the matter came up before the supreme court, the apex court .....

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