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Judgment Search Results Home > Cases Phrase: indian partnership act Court: supreme court of india Page 1 of about 1,889 results (0.195 seconds)

Apr 21 1960 (SC)

The Commissioner of Income-tax, Bombay City, Bombay Vs. Nandlal Gandal ...

Court : Supreme Court of India

Reported in : AIR1960SC1147; (1961)63BOMLR208; [1960]40ITR1(SC); [1960]3SCR620

..... is a partnership between the coparcener individually and his other partners (see kshetra mohan sannyasi charan ..... coparcener, even when he is the karta, entering into partnership (1) [1950] s.c.r. 961. with others in carrying on a business is equally well settled. the partnership that is created is a contractual partnership and will be governed by the pro . visions of the indian partnership act, 1932. the partnership is not between the family and the other partners; it ..... sadhukhan v. commissioner of excess profits tax, west bengal) (1). the coparcener is undoubtedly accountable to the family for the income received, but the partnership is exclusively ..... it could be said that the firms of bombay and banaras constituted the affairs of the hindu undivided family. the businesses in bombay and banaras, according to the partnership act, belonged to nandlal and others. we are, therefore, of opinion that for assessment years 1945-46 ... the hindu undivided family was not resident in the taxable territories .....

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Mar 26 1996 (SC)

Commissioner of Income-tax and ors. Vs. G. Parthasarthy Naidu and ors.

Court : Supreme Court of India

Reported in : [1999]236ITR350(SC); (1998)8SCC487

..... another firm or individual as the definition of 'person' in section 3(42) of the general clauses act, 1897, cannot be imported into section 4 of the indian partnership act.(3) the law, english as well as indian, has for some specific purposes, relaxed its rigid notions and extended a limited personality to a firm.(4) under the income-tax law a firm is ..... profits of a business carried on by all or any of them acting for all'. the section declares further that the persons who have entered into ..... , defined a 'partnership' as 'the relation between persons who have agreed to share the ..... assessable in the hands of the partnership firm as a taxable entity separate and distinct from the partners there is first a decision under the law of partnership ; therefore, the second question arises, the question as to assessment under the tax law. it is clear, therefore, that reference must be made first to the partnership law.the indian partnership act, 1932, has, by section 4 .....

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Dec 15 2006 (SC)

M.V. Karunakaran Vs. Krishanan (Dead) by Lrs.

Court : Supreme Court of India

Reported in : AIR2007SC1501; 2007(3)ALD39(SC); 2007(2)AWC1145(SC); 2007(1)KLT243(SC); (2007)147PLR247; 2006(14)SCALE7; 2007AIRSCW2027; 2007(3)CivilLJ685; 2007(3)AIRKarR350(SC)

..... keeping in view of the facts and circumstances of the case, could not have been determined in such a proceeding. section 29 of the indian partnership act, 1932 states as to what would be the interest of transferee of a partner. sub-section (2) thereof determines the right of a transferee ..... his heirs and ors. : [1966]3scr400 , this court opined:.the whole concept of partnership is to embark upon a joint venture and for that purchase to bring in as capital money or even property including immovable property. once that is ..... if the firm is dissolved or if the transferring partner ceases to be a partner thereof. the right the respective purchaser from the erstwhile partner of dissolved partnership, therefore, was required to be worked out in an independent proceeding.7. in addanki narayanappa and anr. v. bhaskara krishnappa (dead) and thereafter ..... they have not derived any share. therefore, the respondents had no right to offer resistance.5. it is not in dispute that the partnership stood dissolved on the death of madhavan. the heirs and legal representatives, therefore, could transfer the property at least to the extent of their ..... appeal preferred by the appellant herein.2. three brothers, madhavan, bahuleyan and karunakaran, were owners of the property. madhavan and bahuleyan started a partnership under the name and style of 'the trustful daily banking company'. madhavan died on 26.10.1960, leaving behind defendant nos. 3 to 5 .....

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Jan 09 2004 (SC)

Firm Ashok Traders and anr. Etc. Vs. Gurumukh Das Saluja and ors. Etc.

Court : Supreme Court of India

Reported in : AIR2004SC1433; 2004(1)ARBLR141(SC); 2004(2)AWC949(SC); (2004)2CompLJ419(SC); 2004(2)CTC208; JT2004(2)SC352; 2004(3)MhLj592; 2004MPLJ266(SC); (2004)137PLR526; 2004(1)SCALE29

..... so on. ajay arora (of group 'a') filed a civil suit which was held to be not-maintainable in view of section 69(3) of the indian partnership act, 1932; the name of ajay arora having not been shown in the register of firms as a partner of the firm. according to group 'a', a ..... orders as it has for the purpose of, and in relation to, any proceedings before it.indian partnership act, 193269. effect of non-registration. - (1) no suit to enforce a right arising from a contract or conferred by this act shall be instituted in any court by or on behalf of any person suing as a ..... ) the constitution bench approved of a liberal and full meaning being assigned to the phrase 'other proceedings' in sub-section (3) of section 69 of the partnership act untramelled by the preceding words 'a claim of set-off. the court refused to countenance the plea for interpreting the words 'other proceedings' ejusdem generis with the ..... the contract for the year 2003-04 is concerned was vehemently denied. it was reiterated that the application was hit by section 69(3) of the partnership act and hence was liable to be dismissed. the high court has allowed the appeal. it has held that the applicability of section 69(3) is not ..... on very many grounds and mainly by submitting that the application was not maintainable in view of the bar enacted by section 69(3) of the partnership act as the name of the applicant does not figure in the register of firms as partner of the firm. the plea has prevailed with the learned .....

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Jul 28 1977 (SC)

Vasantrao Alias Baburao and anr. Vs. Shyamrao and ors.

Court : Supreme Court of India

Reported in : AIR1977SC2021; [1977]47CompCas666(SC); (1977)4SCC9; [1978]1SCR218; 1977(9)LC499(SC)

..... can only wound up by the court. admittedly this is not a case of volume winding up or winding up subject to the supervision of the chapter vi of the indian partnership act, 1932 also contains persons for the dissolution of a firm and its winding up on dissolution the argument for the appellants is that the special provisions of x of the ..... not relevant for the present purpose. it is clear that provisions for winding up of the affairs of a firm which vi of the indian partnership act contains besides provision-, dissolution of partnership are left untouched by section 59 companies a the cases cited in support of the respective contentions of the parties are not really on the point under consideration except the ..... to entertain some of the claims made in the suit, because section 590 of the companies act makes it clear that part x of the does not affect the operation of the indian partnership act. s 590 states:5. saving and construction of enactments conferring power to w partnership, association or company in certain cases.nothing in this part shall affect the operation of ar ..... . enactment which provides for any partnership, associatic or company being wound up, or being wound up as a cor .....

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Dec 01 1960 (SC)

Commissioner of Income-tax, Bombay Vs. Dwarkadas Khetan and Co.

Court : Supreme Court of India

Reported in : AIR1961SC680a; [1961]41ITR528(SC); [1961]2SCR821

..... among the three others. though kantilal kasherdeo was a minor, he was admitted as a full partner and not merely to the benefit of the partnership, as required by section 30 of the indian partnership act. to the instrument of partnership, kantilal kasherdeo was also a signatory, though immediately after his signature there was the signature of one kasherdeo rungtathe, the natural guardian of the ..... him as a partner ; but it does not render a minor a competent and full partner. for that purpose, the law of partnership must be considered, apart from the definition in the income-tax act. 10. section 30 of the indian partnership act clearly lays down that a minor cannot become a partner, though with the consent of the adult partners he may be admitted ..... to the benefits of partnership. any document which goes beyond this section cannot be regarded as valid for the purpose of registration. registration can ..... march 27, 1946, created a valid partnership (2) if the answer to question no. 1 is in the affirmative, whether the fact that on january 1, 1946, there was no firm in existence would be fatal to the application for registration of the firm under section 26a of the indian income-tax act or whether the firm could be registered with effect from .....

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Jan 08 1996 (SC)

Commissioner of Income-tax, Andhra Pradesh Vs. M/S. B. Posetty and Co.

Court : Supreme Court of India

Reported in : 1996IAD(SC)450; 1996VIIIAD(SC)225; AIR1996SC1091; I(1996)BC466(SC); [1996]220ITR216(SC); [1996]223ITR333(SC); JT1996(1)SC153; JT1996(10)SC100; 1996(4)KarLJ221; 1996(1)SCALE

..... a part of the profits of the main abkari business. and if that was not so, and it was merely a financing agreement, the sub-partnership would fail on the touchstone of section 4 of the indian partnership act as then there would be no agreement to share the profits of business. as the profits of the business to be shared by the sub ..... of a business carried on by all or any of them acting for all.' he submitted that even assuming as this court in degaon ..... partner but the court had not considered the moot question whether such sub-partnership was merely a loan transaction or a financialagreement and if it was merely a financial agreement whether it could ever constitute a partnership within the meaning of section 4 of the indian partnership act, 1932 which reads as under : 'partnership' is the relation between persons who have agreed to share the profits ..... ganga reddy (supra) held that this sub-partnership was merely a financing agreement or .....

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Dec 11 1972 (SC)

Shere-e-punjab Silk Stores Vs. Commissioner of Income Tax, New Delhi

Court : Supreme Court of India

Reported in : AIR1973SC2401; [1973]88ITR421(SC); (1973)4SCC206; [1973]3SCR76

..... that previous year.(ii) before the end of the previous year in any other case.(b) where the firm is registered under the indian partnership act, 1932 (ix of 1932), or where the deed of partnership is registered under the indian registration act, 1908 (xvi of 1908), before the end of the previous year of the firm, and(c) where the application is for renewal of ..... , 1953, be made before the 28th february, 1953, and for any year of assessment subsequent thereto, be made.(a) where the firm is not registered under the indian partnership act 1932 (ix of 1932), or where the deed of partnership is not registered under the indian registration act, 1908 (xvi of 1908), and the application for registration is being made for the first time under the ..... , 3 and 6. these rules read thus :-rule 2-any firm constituted under an instrument of partnership specifying the individual shares of the partners may, under the provisions of section 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 in ..... act.(i) within a period of six months of the constitution of the firm or before the end of the 'previous year' of the firm whichever is earlier, if .....

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Nov 10 1987 (SC)

Wazid Ali Abid Ali Vs. Commissioner of Income-tax, Lucknow

Court : Supreme Court of India

Reported in : AIR1988SC757; (1988)67CTR(SC)43; [1988]169ITR761(SC); JT1987(4)SC349; 1987(2)SCALE1078; 1988Supp(1)SCC193; 1988(Supp)SCC193; [1988]1SCR917

..... v. addl. commr. of income-tax : [1978]115itr858(all) . this full bench ruled that under the general law of partnership under the indian partnership act as well as under section 187 of the act in case of reconstitution of a firm it retains its identity and is assessable in respect of the entire previous year. in view ..... with 17 members. the said deed provided, inter alia, as follows:that where the deed is silent, it shall be governed by the indian partnership act save and except that on the death or demise of any partner the firm shall not be dissolved but shall be carried on with ..... , however, under the scheme of chap. xvi of the act, we are unable to agree; if we were left with general position under the indian partnership act, we might have agreed. that decision of the high court, however, did not deal with the controversy in ..... agreement to treat the firm as continuing notwithstanding the death of a partner, the partners have no option to treat the firm as continuing under the partnership act, 1932, the firm gets dissolved and the income-tax officer is not entitled to ignore this consequence. there is nothing in the language of section ..... from the date other than that of the execution of the instrument and also the terms and conditions on which the partnership had been and was being carried on. the indian income-tax act, 1922, required the income-tax officer to certify and.register the deed itself and the registration of the firm would .....

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Mar 21 2007 (SC)

Ravi Prakash Goel Vs. Chandra Prakash Goel and anr.

Court : Supreme Court of India

Reported in : AIR2007SC1517; 2007(2)ARBLR1(SC); 2007(2)AWC1858(SC); 2007(4)CTC417; JT2007(4)SC523; 2007(4)SCALE562

..... the court has been curtailed to the minimum possible level. it is the contention of the learned counsel that the rights of the legatee under the partnership act are regulated and conditioned by section 29 of the indian partnership act. and on the said strength he is only entitled to receive the share of the assets of the firm to which the testator, his predecessor ..... ?before we proceed further, it is useful to reproduce.16. section 40 of the arbitration act and sections 46, 47 and 48 of the indian partnership act.40. arbitration agreement not to be discharged by death of party thereto.- (1) an arbitration agreement shall not be discharged by the death of any party ..... of the opinion that in view of the provisions of section 46 read with section 48 of the indian partnership act as well as section 40 of the arbitration and conciliation act, 1996, the application for appointment of an arbitrator under the arbitration clause of the partnership deed was liable to be allowed and the learned chief justice has erred in overlooking the said provisions ..... life time of the partner?c) whether in view of section 46 read with section 48 of the indian partnership act as well as section 40 of the arbitration act, 1999, the petitioner is entitled to claim appointment of arbitrator under the arbitration clause of the partnership deed and the hon'ble chief justice of the allahabad high court has erred in overlooking these provisions .....

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