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Judgment Search Results Home > Cases Phrase: indian partnership act Court: mumbai Year: 1991 Page 1 of about 23 results (0.023 seconds)

Aug 14 1991 (HC)

Rasiklal Ratilal and Another Vs. Union of India and Others

Court : Mumbai

Decided on : Aug-14-1991

Reported in : AIR1992Bom418; 1992(1)BomCR700; 1991(2)MhLj1366

..... undertakings (taking over of management) ordinance, 1983. a few facts lending to the present controversy may be stated as under :2. the first petitioner is a partnership firm duly registered under the provisions of the indian partnership act, 1932 carrying on business as dealers and suppliers of yarn. the second petitioner is the partner of the first petitioner firm. on 7th october, 1983, the ..... first petitioner supplied a consignment comprising 497.27 kgs. of standard polyester textures nirlon. yarn, to the third respondent-company which is a textile undertaking covered by the said 1983 act. the said ..... of the petitioners have been dishonoured, the petitioners have filed the present petition for the reliefs inter alia for declaration that the provisions of the 1983 ordinance and the 1983 act referred to above are unconstitutional and for a direction to respondent nos. 1 and 2 to desist from withholding the payment due to the petitioners and for a further direction ..... undertaking and in force immediately before the appointed day shall be deemed to have terminated on the appointed day.' similarly sub-section (7) of s. 3 of the said 1983 act, reads as under :'sec. 3(7). for the removal of doubts, it is hereby declared that any liability incurred by a textile company in relation to the textile undertaking .....

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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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Feb 22 1991 (HC)

Commissioner of Income-tax Vs. Tolaram Jalan and Others, Trustees and ...

Court : Mumbai

Decided on : Feb-22-1991

Reported in : [1991]191ITR134(Bom)

..... apply the remaining assets, if any for charity. no doubt, under the will, it was open to the trustees and the executors to wind up the partnership businesses in so far as it concerned the deceased or to carry them on. there was, however, nothing in the will to indicate how the said income ..... its accrual by an overriding title and could not, therefore, be assessed in the hands of the assessee. 5. neither the will nor the deeds of partnership are made annexures to the statement of the case. from the relevant extracts referred to in the various orders, it is evident that the will says nothing ..... that, in both the cases, the question involved was that of interest and not of the principal liabilities. 7. so far as section 325 of the indian succession act is concerned, we do not find anything more than what can be taken as an ordinary obligation of any person inheriting the estate. at best, it codifies ..... deceased before its accrual as a reason of a charge created under the will, or as a reason of the charge under section 325 of the indian succession act, or as a reason of the legal obligation in the nature of a trust created under the will 2. whether the appellate tribunal ought not to ..... january 8, 1957. the will was probated. the executors and the trustees decided to carry on the partnership business as trustees and executors instead of realising the value of the deceased's share in the partnership firms. it is not on record as to what happened in the proceedings for the assessment years 1957- .....

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Feb 19 1991 (HC)

Commissioner of Income-tax Vs. Smt. Tara Sarup

Court : Mumbai

Decided on : Feb-19-1991

Reported in : 1991(3)BomCR460; [1991]188ITR783(Bom)

..... of the previous year in which it was acquired or installed. in the present case, the plant and machinery, admittedly, became the property of the partnership firms during the previous year and not after the end of the previous year. this condition is, thus, not satisfied. the second condition for the ..... son, was a partner. the appellate assistant commissioner, on the other hand, accepted the assessee's claim that, when the two businesses were converted as partnership concerns, there was no sale or transfer of the business and as such the assessee was entitled to development rebate. the tribunal confirmed the order of ..... the plant and machinery made during the previous year in the businesses styled amar tara industries and indian cork mills even though during the previous year, i.e., on march 1, 1963, her aforesaid two proprietary businesses became partnership concerns. we reframe the question accordingly. 6. for this purpose, it is necessary to ..... previous year in which it was acquired or installed, any allowance made under section 33 or under the corresponding provisions of the indian income-tax act, 1922 (11 of 1922), in respect of that ship, machinery or plant shall be deemed to have been wrongly made for the purposes of ..... this act, and the provisions of sub-section (5) of section 155 shall apply accordingly :...' 4. we will examine the provisions of section 34(3 .....

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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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Nov 26 1991 (HC)

Commissioner of Wealth-tax Vs. Nirajkumar Bajaj (Huf)

Court : Mumbai

Decided on : Nov-26-1991

Reported in : [1992]196ITR380(Bom)

..... be said that any question of law needing reference had arisen. 8. point no. 2 : this pertains to the valuation of assessee's interest in partnership-firms/associations of persons. at the material time, the said valuation was to be made as per the statutory formula prescribed by rule 2 to rule 2 ..... tribunal was correct in setting aside the order of the commissioner of wealth-tax to be deducted while working out the valuation of the assessee's interest in partnership concerns/aops ?' 2. since points involved are common and applications under section 27(1) were disposed of by a common order by the tribunal, these ..... for purposes of rule 2a. rule 2d (a) refers to the amounts paid as advance tax under section 18a of the indian income-tax act 1922, or under section 210 of the income-tax act, 1961 and rule 2e (b) to the 'reserves by whatever name called.' the explanation below rule 2e specifies that 'provision ..... premier ranking to any particular stock exchange, as is granted in the unite kingdom to the london stock exchange under section 44(3) of the u.k. finance act, 1965. 5. the central board of revenue has issued a circular no. 3(wt) of 1957, dated september 28, 1957, reading as under : 'shares ..... various assessees are individual/hindu undivided family and the material assessment years are 1985-86 to 1987-88. the assessees filed the returns under the wealth-tax act showing the value of the equity shares of m/s. bajaj auto ltd. and m/s. bajaj tempo ltd. as per quotations of the poona stock .....

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Aug 14 1991 (HC)

Sunita Plastic Industries Vs. Union of India

Court : Mumbai

Decided on : Aug-14-1991

Reported in : 1992(58)ELT201(Bom)

..... and collector of customs, bombay seeking that direction should be issued to the collector of customs, bombay for clearance of the imported goods. the partnership firm and the partners declared in the petition before the supreme court that the firm was the actual user of butyle acrylate and the firm was ..... against the firm and the partners. in these circumstances, the notice issued against the petitioners to show cause why action under the contempt of courts act should not be taken and why the firm and the partners should not be prosecuted is discharged. 8. accordingly, the notice to show cause ..... passed by the additional chief controller of imports and exports before the appropriate authority mentioned in section 4-m of the imports and exports (control) act, the petitioners did not avail of the said opportunity but filed the present petition on june 12, 1991 under article 226 of the constitution of ..... clause 8(1) and (d) of the imports and control order as well as violation of section 4-k of the imports and control act. the additional chief controller directed that the firm and the partners should be debarred from receiving any import licence, ccps, obtaining allotment of imported ..... authorities in disposing of the imported material. against order dated june 26, 1991 issuing notice to show cause why action under the contempt of courts act and for prosecution should not be taken, the petitioners preferred special leave petition no. 11017 of 1991 before the supreme court. in the petition, .....

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Oct 30 1991 (HC)

Monark Enterprises Vs. Kishan Tulpule and Others

Court : Mumbai

Decided on : Oct-30-1991

Reported in : 1992(2)BomCR406; [1992]74CompCas89(Bom)

..... entered into the impugned transaction to transfer its right, title and interest in plot no. 10 and the structures standing thereon the monark enterprises, a partnership firm, for a consideration of rs. 32,74,294. the said transaction was in the nature of a firm commitment and a concluded contract subject ..... cas 581, the high court of punjab held, at page 587, that section 227(2) of the indian companies act, 1913, which is in pari materia with section 536(2) of the companies act, 1956, shall have no application where a contract was already concluded prior to the commencement of the winding up ..... it is done negligently or not.' 44. the same definition of 'good faith' is not adopted under the indian limitation act, 1963. the definition of 'good faith' as set out in the limitation act, 1963, states that a thing shall not be deemed to be done in good faith if not done ..... workmen have a valid claim. merely because monark enterprises realised their lawful claim by obtaining a transfer, it cannot be inferred that monark enterprises acted fraudulently or not in good faith. having regard to the totality of facts and circumstances of the case, it is impossible to hold that ..... 14, 1987, and the said decision was already communicated to monark enterprises. it shall have, therefore, to be held that shri ravi nariman acted unreasonably and illegally by attempting to back out from the transaction duly executed, completed and implemented after receiving all the benefits thereunder. when the official .....

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Oct 31 1991 (HC)

Bharat Cottage Industries Vs. Union of India

Court : Mumbai

Decided on : Oct-31-1991

Reported in : 1992(59)ELT30(Bom)

..... pendse, j.1. petitioner no. 1 is a partnership firm registered under the partnership act, and had placed order for import of 88 metric tonne of high density polyethylene on ..... vinmar impex inc. u.s.a. on arrival of the imported goods the petitioners filed bills of entries for home consumption. the rate of duty prescribed under heading no. 39.01/06 of chapter 39 of the customs tariff act ..... the exemption notification reads as follows :------------------------------------------------------------------------sr. description of goods heading no. in the extent of tariffno. con-first schedule to the cessioncustoms tariff act, 1975------------------------------------------------------------------------6. polymerisation andcopolymerisation products(for example, polyethylene,polytetrahaloethylenes,polyisobutylene, polystyrene,polyvinyl chloride, polyvinylacetate, polyvinyl chloroacetateand other polyvinyl derivatives,polyacrylic and polymethacrylicderivatives, cumarone ..... claim of the petitioners it is necessary to set out the tariff item under heading no. 39.01/06 of chapter 39 of the customs tariff act, 1975. ------------------------------------------------------------------------heading sub-heading no. and description rate of duty duration whenno. of article. ------------ rates of dutystandard are protective.pre. area------------------------------------------------------------------------39 .....

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Apr 09 1991 (HC)

State of Maharashtra Vs. Chandraprakash Keshavdeo Shinghaniya and Othe ...

Court : Mumbai

Decided on : Apr-09-1991

Reported in : 1991CriLJ3187

..... liability in respect of debts etc., is still executable against even a dormant partner in so far as he is bound by the provisions of the partnership act. as far as the criminal law is concerned, mr. gupta submits that it is a basic principle of criminal jurisprudence that any accused before a ..... cannot be permitted to wash their hands of their liability. lastly, mr. chopda has submitted that under the provisions of the partnership act, the liability of all the partners for the acts of the firm is joint and several and that consequently, this court cannot make any distinctions between one partner and the other. ..... submission of mr. gupta, regarding the case of accused no. 5, mr. gupte has contended that a clear view of the provisions of s. 197, ipc would indicate that there has been total misapplication of that section as far as the framing of the charge against accused no. 5 is concerned. mr. ..... heavily diluted and not up to the specification, the issuance of the certificate by him was treated as an offence punishable u/s. 197 of the indian penal code. the learned trial magistrate has adopted a very curious reasoning while appreciating the evidence on record. the learned magistrate has, in the first ..... of 1977. 2. the five respondents, who are before the court, stood charged with an offence punishable u/s. 420 read with 34 of the indian penal code, in so far as it was alleged that in furtherance of their common intention, that they had cheated the maharashtra state electricity board by .....

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