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Judgment Search Results Home > Cases Phrase: indian partnership act Page 3 of about 35,901 results (0.098 seconds)

Sep 16 1974 (HC)

Dahi Laxmi Dal Factory Vs. Income-tax Officer and anr.

Court : Allahabad

Reported in : [1976]103ITR517(All)

..... firm ' and how it is different from a firm which is newly constituted to determine the scope of sections 187 and 188 of the act.6. under the indian partnership act a firm can be said to be reconstituted when a new partner is added or ah existing partner retires or is expelled without dissolving the ..... firm. chapter v of the indian partnership act deals with the incoming and outgoing of partners. section 31 of that chapter provides :' subject to contract between the partners and to the provisions of ..... still be a case of reconstitution. but this provision does not change the concept of reconstitution of a firm as understood in the indian partnership act nor does it obliterate the distinction between reconstitution and dissolution. when it talks of a partner ceasing to be a partner it refers to section ..... 32 of the indian partnership act and when it talks of admission of a new partner it refers to section 31 of the indian partnership act. it may be restated here that by incoming and outgoing of a partner the firm is not ..... position that emerges is that section 187 applies only where a firm is reconstituted in accordance with sections 31 and 32 of the indian partnership act, namely, when a new partner is taken or an existing partner retires with the consent of all the partners or without their consent if the .....

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Nov 10 2004 (HC)

Commissioner of Income-tax Vs. Badri Nath Ganga Ram

Court : Allahabad

Reported in : [2005]273ITR485(All)

..... minor.16. the appellate commissioner while allowing the appeal lost sight of the fact that sub-sections (1) and (3) of section 30 of the indian partnership act operates in different fields.17. in view of the above discussions, we are of the opinion that the order of the tribunal granting registration to the ..... been specifically mentioned that the minor shall also be liable to share the loss to the extent of his share, according to section 30 of the indian partnership act. the last portion of clause (5) of the deed that the minor shall also be liable for the loss to the extent of his share ..... that as in the present case the minor has also been made liable to share the losses to the extent of his share, according to section 30 of the indian partnership act, the firm is not entitled for grant of registration.(1) cit v. oriental t. maritime : [1997]227itr244(ap) ;(2) addl. cit v. uttam kumar ..... has nothing to do with sub-section (1) of section 30 of the indian partnership act, which provides that a minor can be admitted to the benefits of partnership. section 2(a) of the partnership act defines an 'act of a firm' means any act or omission by all the partners, or by any partner or agent of the ..... to share the profit of the firm but shall not be liable for the losses except as defined under the indian partnership act. the court on the interpretation of clause (2) of the partnership deed of that case came to the conclusion that loss has to be fully distributed amongst the three adult partners. .....

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Oct 28 1969 (HC)

Kishore Chand Ramji Dass Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Reported in : [1970]77ITR76(P& H)

..... 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 ..... of the said act.14. in so far as question no. 2 is concerned, it is already answered by a decision of ..... , partners 5 and 6, who were admitted only to the benefits of the partnership according to clause 4, that supports the conclusion of the learned tribunal that the minors were in fact made substantial partners contrary to section 30 of the indian partnership act, 1930, and thus the registration of the partnership was rightly refused as being void because it was hit by section 30 .....

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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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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 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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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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Nov 27 1979 (HC)

Commissioner of Income-tax Vs. Delhi Printing Works

Court : Delhi

Reported in : [1981]132ITR554(Delhi)

..... a further appeal to the tribunal. the tribunal accepted the assessed's claim to a very limited extent. the tribunal referred to section 37 of the indian partnership act. it found that for the period of two years ending on december 31, 1960, one-third share of sham nath by way of profits in the ..... reference made by the tribunal as well as by counsel for the assessed before us, section 37 of the indian partnership act has no application to the facts of this case.11. the result of the above position is that the partnership came to an end on january 14, 1959. thereafter, the retiring partner was entited to a settlement of ..... to sham nath included, inter alia, some compensation to him by way of interest as well as payment for the use of the assets (which belonged to the partnership in which he had also had an interest) for carrying on the business thereafter. in these circumstances, we think, the tribunal's conclusion that a part of the ..... and the retiring partner shall be deemed to have ceased as a partner although some matters might remain unsettled during that period. under clause (4) of the partnership deed the cash required for running the business was to be contributed by each partner according to his own share and if any partner advanced more than his share ..... ranganathan j.1. this is a reference under section 66(2) of indian i.t. act, 1922, which arose out of the assessment of shambhu nath, proprietor of delhi printing works, for the assessment year 1961-62 for which the previous year .....

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May 27 2005 (HC)

Ashok Kumar Mittal Vs. Ashwani Kapoor and anr.

Court : Delhi

Reported in : AIR2005Delhi323

..... commitments come to an end. he shall take all steps for the winding up of the business of the firm in terms of provisions of the indian partnership act, 1932. during the period the hotel remains under the control of the receiver, none of the parties shall try to interfere with his duties. they ..... mittal do not advance his plea for running the business to the exclusion of the other partners for the reason that neither the provisions of the indian partnership act nor the principles of equity, justice and good conscience permit the court to countenance unfair advantage to those who take law in their hands to gain ..... between the partners and distributing the assets/cash left after meeting the liabilities of dissolved firm. this is the purport of above referred provisions of indian partnership act. the hijacking of the business of a dissolved firm by one of the partners and its running by him to the exclusion of others by ..... hotel now and according to ashwini kapoor, he and his son have been ousted from the business forcibly. section 43 of the indian partnership act, 1932 clearly says that where a partnership is at will, the firm may be dissolved by any partner giving notice in writing to other partners of his intention to dissolve ..... of other partners and only winding up proceedings have to be undertaken in terms of sections 43, 45, 47 and 53 of the indian partnership act. it is argued that sections 41(c) and 41(e) do not permit the grant of any injunction in such situations to permit .....

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Dec 19 1969 (HC)

Seth Sobhag Mal Lodha and ors. Vs. Edward Mills Co. Ltd. and ors.

Court : Rajasthan

Reported in : [1972]42CompCas1(Raj); 1969()WLN498

..... on behalf of the firm. there was, therefore, no question of realising the property of a dissolved firm. after the partition suit the firm began to be governed by the indian partnership act. in this view of the matter, subsection (3) of section 69 will not apply to this case to enable the plaintiffs to file a suit without the registration of the ..... the necessary incidence and the resolution on the demises of the partners, if it could be deemed to have continued after their deaths, stood dissolved under section 42 of the indian partnership act on defendant no. 2's adjudication as insolvent3. that the provisions in the memorandum of association and the articles of association of the company relating to the management are merely ..... the filing of the partition suit, the status of the joint family underwent a change and the business became a partnership business. under section 69 of the indian partnership act, 1932, no suit could have been instituted unless the partnership was registered. section 69 of the indian partnership act, 1932, runs as follows :' (1) no suit to enforce a right arising from a contract or conferred by ..... joint family, even if it was joint, was changed and thereafter as the business was carried on jointly, the firm became an ordinary partnership concern subject to the indian partnership act. as the firm was not registered, section 69 of the partnership act stood in the way of filing the suit without the registration of the firm.8. that in the balance-sheet a sum of .....

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