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Judgment Search Results Home > Cases Phrase: indian partnership act Court: supreme court of india Year: 1960 Page 1 of about 20 results (0.203 seconds)

Dec 01 1960 (SC)

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

Court : Supreme Court of India

Decided on : Dec-01-1960

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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Apr 21 1960 (SC)

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

Court : Supreme Court of India

Decided on : Apr-21-1960

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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Sep 27 1960 (SC)

B.K. Wadeyar Vs. Daulatram Rameshwarlal

Court : Supreme Court of India

Decided on : Sep-27-1960

Reported in : AIR1961SC311; [1961]1SCR924; [1960]11STC757(SC)

..... das gupta, j. 1. m/s. daulatram rameshwarlal, a firm registered under the indian partnership act (referred to later in this judgment as 'sellers') are registered dealers under s. 11 of the bombay sales tax act. in their return of turnover for the period from april 1, 1954 to march 31, 1955, they claimed exemption from sales ..... useless. 11. our conclusion therefore is that the courts below have rightly interpreted the words 'a person' in s.10(b) of the bombay sales tax act as a 'registered dealer' and the purchasing dealers have rightly been assessed to purchase tax under s.10(b). 12. in the result, both the appeals ..... appeal no. 46 of 1959 the appellants' contention is that on a correct interpretation of the provisions of s. 10(b) of the bombay sales tax act no purchase tax was leviable from them. section 10(b) provides for the levy of a purchase tax on the turnover of purchase of goods specified in ..... about the point of time when the export proper commences. as we have already pointed out when export had been defined in the import & export (control) act, 1947, as 'taking out of india by land, sea, or air', export in the export control order, cannot beheld to have commence till at least ..... placed on behalf of the sales tax officer is that export control order, 1954, which was passed in the exercise of powers conferred by import & export control act, 1947, contained a provision in its clause 5(2) in these words :- 'it shall be deemed to be a condition of that licence ............. that the .....

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Oct 07 1960 (SC)

Purushottam Umedbhai and Co. Vs. Manilal and Sons

Court : Supreme Court of India

Decided on : Oct-07-1960

Reported in : AIR1961SC325; [1961]1SCR982

..... (4) bachubhai manibhai amin and (5) dahyabhai trikambhai. the defendant was the firm of purushottam umedbhai & co. (now the appellant) - a firm registered under the indian partnership act, 1932 - carrying on business at no. 55 canning street, calcutta. in july, 1949, there was a contract between the plaintiff and the defendant under which the defendant ..... business outside india is not a suit in fact by the partners of that firm individually. 11. section 4 of the indian partnership act, 1932, hereinafter referred to as the act, states that : ' 'partnership' is the relation between persons who have agreed to share the profits of business carried on by all or any of them ..... not be a legal entity in the sense of a corporation or a company incorporated under the indian companies act it is still an existing concern where business is done by a number of persons in partnership. when a suit is filed in the name of a firm it is in reality a suit ..... substituting new plaintiffs and as regards them it would be deemed to have been instituted when they were made parties. reference to s. 22(1), indian limitation act, was made in this connection. in the present case, so far as the new plaintiffs were concerned, the suit was barred by time at ..... not those of, r. 17 have any application to the case; (3) having regard to the provisions of s. 45 of the indian contract act a suit by only one partner or one promise is bad to start with. there being within the period of limitation no suit by all the partners .....

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Feb 17 1960 (SC)

The Commissioner of Income-tax, Bombay Vs. Chandulal Keshavlal and Co. ...

Court : Supreme Court of India

Decided on : Feb-17-1960

Reported in : AIR1960SC738; (1960)62BOMLR567; [1960]30CompCas261(SC); [1960]38ITR601(SC); (1960)IIMLJ101(SC); [1960]3SCR38

..... arises out of a reference by the income-tax appellate tribunal under section 66(1) of the indian income-tax act (hereinafter termed the act). the appellant in this appeal is the commissioner of income-tax and the respondent is a partnership firm which, by an agreement dated september 23, 1935, was appointed the managing agent of the ..... the absence of a suggestion of a fraud this is not relevant at all for giving effect to the provisions of section 12(2) of the income-tax act. most commercial transactions are entered into for the mutual benefit of both sides, or at any rate each side hopes to gain something for itself. the test ..... 5%. the income-tax appellate tribunal and the high court held that the interest on debentures was not an allowable expenditure under s. 12(2) of the act. this court, on appeal, was of the opinion that the transaction was of a commercial nature from the point of view of the assessee company and ..... the bonus which the managed company paid to some of its officers and claimed it as a deductible expenditure under s. 10(2)(xv) of the act. this deduction was allowed on the ground that the object of the payment from the point of view of commercial principles was to increase the profits of ..... or a part thereof is foregone in the interest of the managed company, it would be allowed as an expenditure under section 10(2)(xv) of the act. we allow the amount foregone under section 10(2)(xv).' 2. against this order, at the instance of the appellant, a case was stated to the .....

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Mar 15 1960 (SC)

Charandas Haridas and anr. Vs. the Commissioner of Income-tax, Bombay ...

Court : Supreme Court of India

Decided on : Mar-15-1960

Reported in : AIR1960SC910; (1960)62BOMLR663; [1960]39ITR202(SC); [1960]3SCR296

..... could be made was to divide the income, and this had the necessary effect, in law, of dividing the assets, if not for the purposes of the partnership act, at least for the purposes of assessing income-tax. he, therefore, contended that the hindu undivided family which had ceased to exist in so far as ..... point of fact, and the income which accrues, cannot be said to be of a hindu undivided family. there is nothing in the indian income-tax law or the law of partnership which prevents the members of a hindu joint family from dividing any asset. such division must, of course, be effective so as to ..... do not ipso facto become partners in the business so as to clothe them with all the rights and obligations of a partner as defined by the indian contract act. in such a case the family as a unit does not become a partner, but only such of its members as in fact enter into ..... against the judgment and order dated february 16, 1955, of the high court of bombay in an income-tax reference under s. 66(2) of the indian income-tax act. 2. the appellants are two assessees, charandas haridas and chinubhai haridas, whose cases are identical, and, in fact, there was a consolidated reference by the ..... hindu undivided family. the tribunal having declined to state a case under s. 66(1) of the indian income-tax act, charandas haridas moved the bombay high court, and obtained an order under s. 66(2) of the act. the question on which the case was stated was : 'whether there were materials to justify the finding .....

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Sep 21 1960 (SC)

E.M. Muthappa Chettiar Vs. the Income-tax Officer, Special Circle, Coi ...

Court : Supreme Court of India

Decided on : Sep-21-1960

Reported in : AIR1961SC204; [1961]41ITR1(SC); [1961]1SCR788

..... a dissolved firm, and, therefore, if two or three persons carry on business as a firm, the assessment could be made on the partnership in the partnership name and the persons, who carried on the business during the chargeable accounting period will be liable to pay the tax as provided by ..... seeking a decree for dissolution from a date to be specified by the court and for rendition of accounts on foot of a subsisting partnership till the date so fixed. the subordinate judge upheld the validity of the dissolution by thyagrajan chettiar in 1943. from this judgment rendered in ..... to the excess profits tax act under section 21 of the latter act). under the provisions of the excess profits tax act, where a partnership carrying on a business becomes disrupted and the excess profits earned ..... provisions of sections 8 and 13 of the excess profits tax act under which it is the 'business' producing income which is the unit of assessment for excess profits tax as contrasted with the provisions of the indian income tax act under which the unit of assessment is either the individual, hindu ..... undivided family, firm, company or association of persons, carrying on the income-earning activity (vide section 3 of the income tax act - which has not been made applicable .....

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Nov 07 1960 (SC)

Bhaichand Amoluk and Co. Vs. Commissioner of Income-tax, Bombay City I ...

Court : Supreme Court of India

Decided on : Nov-07-1960

Reported in : [1962]44ITR511(SC)

..... family, and devised a scheme to transfer the business to a sham partnership consisting of his mother, an employee and an agent of the firm, with the benefits of the partnership to his two minor sons, that the new indian assurance company lent its support to a practice by which insurance business was ..... were no materials on which the finding that the firm seeking registration was a pretense, could be rested, and (b) in any event, the tribunal having acted on suspicions, conjecture and surmises, its decision is erroneous, in view of the decisions of this court reported in dhirajlal girdharilal v. commissioner of income-tax ..... -of-attorney which was not withdrawn, that no new letter of appointment was issued by the three insurance companies for whom the old firm was acting as principal agents, and that no written communication was given to them. in disposing of the matter, the tribunal stated that chhotalal probably wished ..... the year of account, calendar year 1953, an application for the registration of this new firm was made under section 26a of the income-tax act. the income-tax officer by his order dated september 30, 1954, declined registration, holding that the firm belonged solely to chhotalal bhaichand had not made ..... insurer and a principal agent were also required to be in writing, and the model terms contained in part i of the sixth schedule to the act were to be deemed to be incorporated in and form part of every such contract. 3. the case of the firm is that chhotalal bhaichand .....

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Aug 17 1960 (SC)

Zoraster and Co. Vs. the Commissioner of Income Tax, Delhi, Ajmer, Raj ...

Court : Supreme Court of India

Decided on : Aug-17-1960

Reported in : AIR1961SC107; [1960]40ITR552(SC); [1961]1SCR210

..... properly exercise our own advisory jurisdiction.' 15. this court pointed out that the high court exceeded its jurisdiction under s. 66(4) of the indian income-tax act. it was observed : 'if the question actually referred does not bring out clearly the real issue between the parties, the high court may ..... the judgment and order dated march 24, 1955, of the punjab high court by which the high court, purporting to act under section 66(4) of the indian income-tax act, called for a supplemental statement of the case from the income-tax appellate tribunal. the special leave granted by this court ..... later case, the department had to deal with a non-resident company which, at all material times, was situate at bhavnagar, one of the indian states. cheques in payment for supplies to government were sent from british india to bhavnagar. the department contended in the case that though the cheques ..... of payment :- unless otherwise agreed between the purchaser and the contractor payment for the delivery of the stores will be made by the chief auditor, indian stores department, new delhi, by cheque on a government treasury in india or on a branch of the imperial bank of india or the reserve bank ..... coparceners of a joint hindu family, and the third is a stranger. they had formed this partnership in june, 1940, for the manufacture and sale of blankets, felts and other woollen articles. a deed of partnership was also executed on march 16, 1944. the assessee entered in to contracts with the government .....

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Sep 20 1960 (SC)

Anwarkhan Mahboob Co. Vs. the State of Bombay (Now Maharashtra) and or ...

Court : Supreme Court of India

Decided on : Sep-20-1960

Reported in : AIR1961SC213; [1961]1SCR709; [1960]11STC698(SC)

..... sales tax officer, baroda, made an order assessing the petitioner to a purchase tax under s. 14, sub-s. (6), of the bombay sales tax act, 1953 (bom. act iii of 1953) for the period april 1, 1954 to september 29, 1955. the petitioner contends that this assessment was illegal inasmuch as these transactions are ..... grapes may be 'finally consumed' by eating them as fruits; they may also be consumed by drinking the wine prepared from 'grapes'. again, the final act of consumption may in some cases be spread over a considerable period of time. books, articles of furniture, paintings may be mentioned as examples. it may even ..... is unnecessary and indeed inexpedient to attempt an exhaustive definition of the word 'consumption' as used in the explanation to art. 286 of the constitution. the act of consumption with which people are most familiar occurs when they eat, or drink or smoke. thus, we speak of people consuming bread, or fish or ..... officer, baroda and the assistant collector of sales tax, northern division, range iii, baroda - preventing them from enforcing the provisions of the bombay sales tax act against the petitioner on the transactions in question, for a writ in the nature of certiorari for quashing the proceedings taken against the petitioner and the orders ..... das gupta, j. 1. in this petition under art. 32 of the constitution the petitioner, a partnership firm carrying on the business of manufacture of bidis and having its head office at jabalpur within the state of madhya pradesh .....

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