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Judgment Search Results Home > Cases Phrase: indian partnership act Court: madhya pradesh Page 1 of about 359 results (0.066 seconds)

Mar 29 2006 (HC)

Om Prakash Vs. Gordhan and ors.

Court : Madhya Pradesh

Reported in : 2006(2)MPLJ497

..... enacting it, the previous law on the subject and the mischief which the statute intended to cure should be looked into. under the law as it stood prior to the indian partnership act, an active partner who had retired from a firm could continue to remain liable for the debts contracted subsequently by the continuing firm unless those who had previous dealings with ..... is an admitted position that no public notice was issued with regard to retirement of the appellant from the firm.section 45 of the indian partnership act, 1932 reads as under with regard to liability of partners:45. liability for acts of partner done after dissolution.- (1) notwithstanding the dissolution of a firm, the partners continue to be liable as such a third ..... the firm if done before retirement.the division bench further held as under after analyzing the provisions of sections 32(5) and 45 of the partnership act and the earlier provision of the indian contract act:- section 32(3) therefore enacts a liability on the well known principle of holding out. this principle is also recognized in the case of dissolution, under section ..... 45 of the partnership act. the partnership act is an amending enactment and is by no means a complete one. it repealed ch. xi of the indian contract act which contained provisions relating to the law of partnership. it is well recognized rule of construction that for a due appraisement of the content of .....

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Dec 04 2004 (HC)

Gangabishan Dwarikadas Agrawal Vs. State of Madhya Pradesh and ors.

Court : Madhya Pradesh

Reported in : 2005(3)MPHT220

..... supra) the apex court considering the definition of person under section 61 (i) (b) of the punjab municipal act held in paras 18 and 19 thus :-'18. 'partnership' as defined in section 4 of the indian partnership act, 1932, is the relation between persons who have agreed to share the profits of a business carried on by all ..... or any of them for the benefit of all. the section further makes it clear that a firm or partnership is not a ..... reconstituted firm can carry on its business in the same firm's name till dissolution. the law with respect to retiring partners as enacted in the partnership act is to a certain extent a compromise between the strict doctrine of english common law which refuses to see anything in the firm but a collective ..... distinct unit for purposes of assessment. sections 26, 48 and 55 of the act fully bear out this position. these provisions of the act go to show that the technical view of the nature of a partnership under english law or indian law can not be taken in applying the law of income-tax. the ..... true question to decide is one of identity of the unit assessed under the income-tax. the true question to decide is one of identity of the unit assessed under the income-tax act, .....

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Sep 30 1980 (HC)

Ganesh Dal Mills Vs. Commissioner of Income-tax

Court : Madhya Pradesh

Reported in : [1982]136ITR762(MP)

..... , the question has been referred to us for opinion.6. chapter xvi of the i.t. act makes special provisions applicable to firms. section 2(23) of the act defines 'firm', 'partner' and 'partnership' as having the meanings respectively assigned to them in the indian partnership act. part c of chap. xvi refers to changes in the constitution,. succession and dissolution. before we ..... v(sections 31 to 35) of the partnership act refers to the effect of ..... consider the language of sections 187 and 188 of the act, we may refer to the provisions in the partnership act on the incidents of partnership.7. chapter ..... 187(2) explains what is 'change in the constitution of a firm'. this explanation does not make any departure from the expression as used in the partnership act. section 26(1) of the indian i.t. act, 1922, did not contain any such definition or explanation, but the interpretation was always the same. 'any change in constitution', as explained under section .....

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Sep 05 1983 (HC)

Girdharilal Nannelal and Sukhlal Jhamaklal Vs. Commissioner of Income- ...

Court : Madhya Pradesh

Reported in : [1984]147ITR529(MP)

..... , then the meaning of section 187 cannot be curtailed to exclude such a situation from its ambit simply because the general law contained in the indian partnership act undoubtedly contemplates continued existence of the firm at the time of the change in its constitution. the real difference in the conflicting views is in ..... of ' dissolution ' and ' change in the constitution of a firm ' according to the general law contained in the indian partnership act is, therefore, not warranted.9. section 188 of the i.t. act, 1961, provides for cases of succession of one firm by another and excludes from its ambit the cases covered by section ..... by the learned counsel for the assessee that sections 187, 188 and 189 must be construed harmoniously with the indian partnership act, 1932, and sub-section (2)(a) of section 187 of the i.t. act should not be construed to include the case of succession of one firm after it is dissolved by another firm ..... the other view is that it merely supplements the provisions of the general law contained in the indian partnership act, even in this respect.17. in view of the construction we have made of section 187 of the i.t. act, 1961, as indicated earlier, we express our concurrence with the decision in vimal and amar talkies ..... wide enough to include within its ambit a situation which is ordinarily that of dissolution of a firm under the indian partnership act, as a result of one only of the old partners remaining at the time of the change to continue the business .....

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Apr 27 1989 (HC)

Hukumchand Vs. State Bank of Indore and anr.

Court : Madhya Pradesh

Reported in : [1992]73CompCas525(MP)

..... a case.' 24. shri chitale, learned counsel, no doubt attempted to argue as to how there was a difference between the old section 264 of the indian contract act, 1872, and the present provisions in the indian partnership act, we, however, in view of the direct gujarat high court decision, do not think that shri chitale's attempt to distinguish the decision, advances the plaintiff ..... defendant no. 3 lakhmichand as also the mortgaged property liable for satisfaction of the mortgage money, is that no notice as required under sections 32 and 45 of the indian partnership act was given, though the learned judge, in para 42 of the judgment, refers to the plaintiffs letter dated july 9, 1958, already referred to above. in this connection, shri waghmare ..... third and more important question as to the effect of the public notice of the dissolution of the firm not having been given as stipulated under section 45 of the indian partnership act, 1932. on going through the judgment of the lower court, paras 32 and 43, it is seen that what mainly weighed with the lower court for holding the appellants and ..... confer any title on the vendees. the suit is not barred by limitation. 8. the learned additional district judge held that as no public notice under section 45 of the indian partnership act, 1932, was given of the dissolution of the firm, the defendants are liable to pay the amount and the mortgaged property was liable for its satisfaction. he accordingly decreed the .....

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Nov 12 1979 (HC)

Ganesh Rice Mills Vs. Commissioner of Income-tax

Court : Madhya Pradesh

Reported in : 1980MPLJ379

..... accordance with their shares in profits during the minority of narayan prasad. but after narayan prasad became a major and consequently a partner in accordance with section 30 of the indian partnership act, the note that narayan prasad was entitled to share profits only ceased to be operative and all the partners including narayan prasad became liable to share losses in accordance with ..... the shares specified in clause (2). in ouropinion, therefore, clauses (2) and (3) of the instrument of partnership, on a fair construction, provide for distribution of losses amongst the partners on the minor attaining majority. it cannot, therefore, be said that on narayan prasad's attaining majority there ..... in the identity of partners. 'shares of the partners as evidenced by the instrument of partnership' refer to their shares in profit and loss as disclosed by the instrument of partnership. section 2(23) of the act defines a partner to include a minor admitted to the benefits of partnership. in view of this special definition, it cannot be said that when a minor ..... admitted to the benefits of a partnership becomes a major, and so becomes a partner in the real .....

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Oct 13 1980 (HC)

Ramchand Nawalrai Vs. Commissioner of Income-tax

Court : Madhya Pradesh

Reported in : (1981)20CTR(MP)50; [1981]130ITR826(MP)

..... the parties must decide that for themselves'. (see lindley, 14th edn., p. 119).5. the definition of partnership as contained in section 4 of the indian partnership act, 1932, does not make it obligatory that the partners must combine their property for sharing profits by constituting a partnership. the definition contained in section 4 is in line with the english law that any consideration such ..... , as contribution of skill and labour by a person would be sufficient to support the agreement of partnership. indeed, it ..... and 30 percent., respectively. it was claimed that the business of the huf was carried on in the relevant previous year by the partnership. an application for registration of the partnership was filed under section 185 of the act. the ito held that there was no division in the huf and as all the funds invested in the so-called firm had ..... a share in the business. as stated by lindley, 'any contribution in the shape of capital or labour, or any act which may result in liability to third parties, is a sufficient consideration to support a partnership agreement'. (lindley on partnership, 14th edn., p. 119). the legal position that contribution of labour and skill by a partner are sufficient to support .....

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Aug 16 1995 (HC)

Essar Steels Vs. Union of India (Uoi)

Court : Madhya Pradesh

Reported in : 1995LC21(MP); 1996(83)ELT38(MP)

..... a petition under articles 226 and 227 of the constitution of india.2. briefly stated, the facts of the case are that the petitioner is a firm registered under the indian partnership act. the petitioner firm has set-up a factory at mandsaur to manufacture twisted bars. the products of the petitioner are subject to central excise duty under the central excise tariff ..... is not proper to examine the merits of the matter or to adjudicate upon the question which is required to be answered by the appellate authority constituted under the relevant act.10. in the result, this petition is dismissed as incompetent leaving the petitioner free to pursue the appeal presented by it and obtain adjudication of the issue, common in this ..... (annexure i) demanding duty of rs. 1,09,761/- under rule 9(2) of the central excise rules, 1944 read with proviso to section 11a of central excises and salt act, 1944 and also imposed penalty of rs. 20,000/-. the petitioner felt that it is entitled to exemption under notification no. 202/88. dubbing the aforesaid order (annexure i), as .....

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Aug 25 1989 (HC)

Smt. Quamrunnisa Vs. Commissioner of Income-tax

Court : Madhya Pradesh

Reported in : [1989]180ITR423(MP)

..... holding that part of the amount of rs. 70,000 received by the assessee was attributable to the assessee's share of profits in terms of section 37 of the indian partnership act and, accordingly, liable to tax in her hands ?'2. the material facts giving rise to this reference as set out in the statement of the case, briefly, are as follows ..... tribunal further held that part of the amount received by the assessee was attributable to the share of profits that the assessee was entitled to under section 37 of the partnership act and that it would have to be spread over the four years in question. in this view of the matter, the tribunal remanded the case to the income-tax officer ..... was dissolved. though the tribunal has referred to the agreement between the assessee and other partners whereby the disputes between them arising out of expulsion of the assessee from the partnership were settled and the assessee was paid a lump sum, neither the agreement is on record, nor has the tribunal referred to the terms and conditions of that agreement. in ..... proceedings in that behalf. ultimately, the matter was settled between the parties and the assessee was paid a sum of rs. 70,000 on account of her share in the partnership firm, on the closing date of the relevant accounting year. in the course of the assessment of the assessee for the assessment year 1978-79, the income-tax officer assessed .....

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Jun 22 1990 (HC)

Commissioner of Income-tax Vs. Nirmal Kumar and Co.

Court : Madhya Pradesh

Reported in : [1991]188ITR631(MP)

..... light of the proviso to sub-section (5) and the provisions of sub-section (7) of section 30 of the indian partnership act, 1932, and those of section 185(3) of the act, the tribunal came to the conclusion that the assessee was entitled to the continuation of registration of the firm. this conclusion ..... given by the firm in form no. 12 was held to be incorrect by the income tax officer. the income-tax officer ultimately held that the partnership deed dated may 16, 1970, lost its validity on december 27, 1971, when the minor, tarun kumar, attained majority and as such during the ..... 21, 1971, and on becoming major, he became liable for losses in the firm also. the income-tax officer further observed that the instrument of partnership dated may 16, 1970, did not show how losses would be apportioned amongst the major partners on the attaining of majority by the minor partner. ..... year under consideration, there was no genuine partnership firm in existence evidenced by a proper partnership deed. accordingly, the income-tax officer refused renewal of registration to the firm under section 184(7) of the act and proceeded to assess it as an association of persons. the appeal ..... income-tax act, 1961 (in short, the 'act'), the revenue has applied to this court for requiring the appellate tribunal to state the case and to refer it for the opinion of this court on the following two proposed questions of law :'1. whether the tribunal has construed the partnership deed reasonably .....

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