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Judgment Search Results Home > Cases Phrase: indian partnership act Court: punjab and haryana Year: 1973 Page 1 of about 7 results (0.086 seconds)

Jan 04 1973 (HC)

Dharam Pal Sat Dev Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Jan-04-1973

Reported in : [1974]97ITR302(P& H)

..... new partnership was formed between sat dev and dharam pal, partners of the dissolved firm, and shri sham lal, son of the deceased partner, shri ..... only be referred to if it is found that a particular situation is not covered by the provisions of the income-tax act. though a particular firm, in view of the provisions of section 42(c) of the indian partnership act, may stand dissolved, if we come to the conclusion that such a case is covered by the provisions of section 187 of the ..... of which ram rattan, deceased, was a partner stood dissolved in view of the provisions of section 42(c) of the indian partnership act, as there was no provision in the partnership deed providing that, in the event of death of any partner, the partnership would continue. it is contended that a completely new entity came into being on june 9, 1966, when a new ..... ram rattan died on june 6, 1966. there was no provision in the partnership deed for the continuance of the partnership in the event of death of any partner and, therefore, it is pleaded by the assessee that, in view of the provisions of section 42(c) of the indian partnership act, the firm stood dissolved on june 6, 1966, on june 9, 1966, a .....

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Feb 22 1973 (HC)

Jagan Nath Pyare Lal Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Feb-22-1973

Reported in : [1973]92ITR207(P& H)

..... 26a of the indian income-tax act, 1922 (hereinafter in these rules referred to as 'the act'), register with the income-tax officer, the particulars contained in the said instrument on application made ..... the case may be, a certificate in the following form, namely:-- ' this instrument of partnership/certified copy of an instrument of partnership, has this day been registered with me, the income-tax officer for. .... .in the state of. .... .under section 26a of the indian income-tax act, 1922, and this certificate of registration shall have effect for the assessment for the year ending ..... as may be prescribed.' 8. rules 2, 3 and 4 of the indian income-tax rules, 1922 (made under section 59 of the indian income-tax act, 1922) (hereinafter referred to as 'the rules'), are in the following terms ;'2. any firm constituted under an instrument of partnership specifying the individual shares of the partners may, under the provisions of section ..... partners for registration, it would be admissible for registration under the indian income-tax act, 1922.14. thus, from what has been stated above, it would be seen that under the provisions of the income-tax act there can be a partnership which may be in existence in accordance with the instrument of partnership with some of the partners having assented to the .....

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Aug 01 1973 (HC)

Controller of Estate Duty Vs. Shri Ved Parkash Jain

Court : Punjab and Haryana

Decided on : Aug-01-1973

Reported in : [1974]96ITR303(P& H)

..... be taken. the whole concept of partnership is to embark upon a joint venture and for that purpose to bring in as capital money or even property including immovable property. once ..... their lordships have described the nature of interest of a partner during the subsistence of a partnership and after its dissolution and the relevant observations read as under : ' from a perusal of these provisions it would be abundantly clear that whatever may be the character of the ..... court. 5. the answer to the question posed by the tribunal would not present much difficulty if we first find out the nature of interest of a partner in the partnership property and for that purpose reference may be made to the decision of the supreme court in addanki naryanappa v. bhaskara krishnappa, a.i.r. 1966 s.c. 1300 wherein ..... money, and all the partnership debts and liabilities have been paid and discharged. this it is, and this only which on the death of a partner passes to his representatives, or to a legatee of his share.........and which on hisbankruptcy passes to his trustee.'...... it seems to us that looking to the scheme of the indian act no other view can reasonably .....

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Sep 24 1973 (HC)

S.P. Gramophone Co. Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Sep-24-1973

Reported in : [1974]97ITR532(P& H)

..... commissioner in appeal and the appellate assistant commissioner affirmed the decision of the income-tax officer. while dealing with the contention of the assessee that the firm was a genuine partnership firm, the appellate assistant commissioner observed as follows :'considering the circumstances, the provisions of the deed, the close relationship of the alleged partners, pre-existing relationship of master ..... the assessee is entitled to registration under section 26a of the indian income-tax act, 1922, read with rule 6 of the income-tax rules, 1922 ? (3) ..... part of the case,3. the said firm applied for registration for the assessment year 1961-62 under section 26a of the act. the application is dated 15th of september, 1960. the application was accompanied by the deed of partnership. the income-tax officer, however, rejected the assessee's application for registration because he was of the opinion that there was ..... thefollowing three questions of law for our opinion under section 66(1) of theindian income-tax act, 1922:'(1) whether, on the facts and in the circumstances of the case, and on a true construction of the instrument of partnership dated 1st april, 1960, a valid partnership came into existence ? (2) whether, on the facts and in the circumstances of the case, .....

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Aug 10 1973 (HC)

Kehar Dass Vs. Tarak Singh and anr.

Court : Punjab and Haryana

Decided on : Aug-10-1973

Reported in : AIR1974P& H133

..... judgment was followed by the gujarat high court in ilr (1969) 10 guj 12(supra). in that case a suit was instituted for dissolution of partnership and rendition of accounts. a defence was taken that the subject-matter of the suit was referred to arbitration, that the arbitrator had given an ..... suryanarayana reddy v. venkata reddy, ilr (1949) mad 111: (air 1948 mad 436) it was held that sections 32 and 33 of the indian arbitration act, 1940, did not preclude a defendant from setting forth an award which had been fully performed by him but which was not filed in court ..... in a court of law. the arbitration agreements are not hit by section 28 of the indian contract act, 1872. section 14 of the specific relief act, 1963, states that save as provided by the arbitration act, 1940, no contract to refer present or future differences to arbitration shall be specifically enforced, ..... is because legal proceedings should not be carried out or proceeded with where there is an arbitration agreement. putting the matter differently, the arbitration act seems to contemplate that in respect of matters which are covered by the arbitration agreement, a suit shall not be entertained and proceeded with ..... nor shall any arbitration agreement or award be enforced, set aside, amended, modified or in any way affected otherwise than as provided in this act. 33. arbitration agreement or award to be contested by application.--any party to an arbitration agreement or any person claiming under him desiring to challenge .....

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Dec 05 1973 (HC)

Hindustan Tools Mfg. Co. Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Dec-05-1973

Reported in : [1976]102ITR174(P& H)

..... lal and shri raj kumar. the share of shri amrit lal is two-thirds and that of shri raj kumar is one-third. the income of the partnership is from the small cutting tools, tape, dies and number sets. the firm filed its return on 22nd july, 1968, declaring income of rs. 26, ..... year 1965-66. goods were detained by the pakistan government during the indo-pak. hostilities. subsequently, the assessee received claim of rs. 28,680.05 in indian currency from the insurance company. the sum of rs. 9,423.33 forms a part of the taxable income of the firm and the balance sum of ..... for the year 1962-63.11. it is apparent that the authorities below did not consider this case keeping in view the relevant provisions of the act and on the other hand without examining the facts and finding out whether there was any conscious concealment or deliberate furnishing of inaccurate particulars of the ..... , this amount was added to the amount already assessed. this led to initiation of proceedings for levy of penalty under section 271(1)(c) of the act and the matter was then referred to the inspecting assistant commissioner who alone dealt with the question of penalty. he issued a show cause notice to the ..... of this income and bring it to assessment. on getting information, the income-tax officer issued a notice under section 148 of the income-tax act, 1961 (hereinafter called 'the act'), on 31st december, 1969. the assessee then filed his return and it was the same as earlier assessed. but to this return, the assessee .....

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Apr 23 1973 (HC)

Additional Commissioner of Income-tax Vs. Inder Singh Uppal

Court : Punjab and Haryana

Decided on : Apr-23-1973

Reported in : [1975]98ITR368(P& H)

..... existence. party no. 1 agreed to share profits and losses at 5% and the parties from 2 to 6 at 19% each. it was a short-lived partnership and sh. b.c. soni retired on august 21, 1963, when the old firm dissolved and vide deed dated august 22, 1963, a new firm consisting ..... .'in that case the appellate assistant commissioner had observed thatno doubt the assessee had made a declaration but it had to be seen whetherit was actually acted upon and that there must be some evidence to showthat after the declaration the property was differently dealt with from thedate on which it was alleged ..... self-acquired property into the common stock of 'joint family property, does not amount to a transfer so as to attract the provisions of the gift-tax act, 1958.'it was further observed (at page 678) that:'the existence of a coparcenary is absolutely necessary before a coparcener can throw into the common stock ..... school of hindu law. when a coparcener throws his separate property into the common stock, he makes no gift under chapter vii of the transfer of property act. in such a case there is no donor or donee. further, no question of acceptance of the property thrown into the common stock arises.'from these ..... words the joint family property can be created by any member of the joint family by impressing it with the character of joint family property by an act which shows his volition and the intention to surrender his separate rights in the property and to treat it as the property of the joint hindu .....

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