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Judgment Search Results Home > Cases Phrase: indian partnership act Sorted by: old Court: income tax appellate tribunal itat nagpur Page 1 of about 28 results (0.054 seconds)

Apr 24 1952 (TRI)

Mohanlal Hiralal Vs. Commissioner of Income-tax, C.P.

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : 195222ITR448(Nag.)

..... of the appellate tribunal, that the share income from a firm carrying on trade is not income from business. under section 4 of the indian partnership act, partnership is a relation between persons who have agreed to share profits of a business carried on by them or by any of them ..... distinguishable on facts. this contention may be correct when an unregistered firm is a unit of assessment. the jaipur firm is not a unit of assessment under the indian act. the assessee, and not the jaipur firm of which he is a partner, was treated as a unit of assessment.12. it is next contended that ..... and the tribunal is always under the obligation to apply the appropriate law to the facts found by it. there is no provision either in the indian income-tax act or in the rules framed by the tribunal to warrant a contrary view.16. under section 66(1) the assessee can require the appellate tribunal to ..... 7,226 arising from the jaipur firm can be set off against the profits accruing to the assessee in british india, under section 24(1) of the indian income-tax act ?" by an order dated january 31, 1950, it was held by us that on the statement of the case the question referred should have been :- ..... acting for all; persons who have entered into partnership with one another are called individually "partners" and collectively "a firm" and the name under which their business is carried on is called the " .....

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Dec 10 1953 (TRI)

Jabalpur Ice Manufacturing Vs. Commissioner of Income-tax,

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : 195527ITR88(Nag.)

..... person" : "person shall include any company or association or body of individuals whether incorporated or not." this term has not been defined either in the indian contract act, 1872, or in the indian partnership act, 1932. in the indian income-tax act, 1922, it is defined in section 2 (9) as below : "person includes a hindu undivided family and a local authority." kanga and palkhivala ..... the question was mooted before their lordships of the privy council in bhagwanji v. alembic chemical works in which they observed : "it is true that the indian partnership act goes further than the english partnership act, 1890, in recognising that a firm may possess a personality distinct from the persons constituting it; the law in india in that respect being more in accordance ..... however, urged by the learned counsel for the assessee firm that whatever view might be held on the basis of section 239 of the indian contract act, 1872, it cannot hold good since the passing of the indian partnership act, 1932, which recognises a distinct entity for a firm apart from the members composing it. it was also urged that keeping in view ..... has a distinct legal entity and is entitled to enter into partnership with another firm or individuals.9. partnership as defined in section 4 of the indian partnership act, 1932, does not differ materially from either the definition in section 239 of the indian contract act, 1872, or section i of the english partnership act, 1890. there is no doubt that it would appear from .....

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Dec 27 1989 (TRI)

income-tax Officer Vs. AshwIn Trading Co.

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (1990)33ITD189(Nag.)

..... of the firm, a firm is dissolved by operation of law in a case where the provisions of section 42 of the indian partnership act apply.even here, it must be highlighted that the provisions of section 42 are "subject to contract between the partners." in other words, where a ..... partnership deed is silent on the fate of the firm on the death of any of its partners, section 42(c) of the indian partnership act would get activated and consequently the firm will stand dissolved on the death of the partner. ..... where, however, as in the case before us, the partnership deed contains a specific provisions to the effect that the death of any of ..... .9. on his part, shri r. m. shah, the learned counsel for the assessee, contended that as provided in section 40 to 43 of the partnership act, death of a partner resulted in dissolution of the firm. further, he contended that after the death of nanjibhai shah, one of the remaining partners gave ..... in the following circumstance : 3. previously firm consisted of four partners. on 5-5-1980, one of the partners, shri nanjibhai shah, died. a new partnership was constituted with effect from 6-5-1980 consisting of two out of the three remaining partners of the old firm, and four new partners. the i. t .....

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Oct 12 2001 (TRI)

Bombay Snuff Co. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2002)76TTJ(Nag.)76

..... he contended that the department ought to have adhered to the terms of partnership deed and accordingly relief should have been granted to the assessee-firm. he further contended that as per the provisions of indian partnership act, 1932, the partnership firm is not a distinct legal entity apart from the partners constituting it ..... the hands of the firm. in this regard, he contended, that the assessee-firm in order to remove this anomaly, amended its partnership deed providing specifically that the interest and remuneration to the partners would be allowed from the income after allowing deduction under sections 80hh and ..... conflict between the term of partnership deed and provisions of the taxing statute, the latter shall prevail over the former.from ..... section 40(b), after the amendment made by the finance act, 1992, entirely debars the admissibility of the interest and remuneration paid to the partners.the learned counsel for the assessee has also contended that the deed of partnership of the assessee-firm was duly amended to provide specifically that ..... the relevant terms and conditions of the partnership deed of the assessee-firm, as amended, are not in conformity with the provisions of law. it is a settled position of law that the terms of the partnership cannot override the provisions of income tax act and in the event of any .....

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Oct 12 2001 (TRI)

Bombay Snuff Co. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2002)82ITD296(Nag.)

..... (1972) 83 itr 175 (sc) he contended that the department ought to have adhered to the terms of partnership deed and accordingly relief should have been granted to the assessee-firm. he further contended that as per the provisions of indian partnership act. 1932, the partnership firm is not a distinct legal entity apart from the partners constituting it and as such the authorities below ..... partners which otherwise would have been exempt in the hands of the firm. in this regard, he contended that the assessee-firm in order to remove this anomaly, amended its partnership deed providing specifically that the interest and remuneration to the partners would be allowed from the income after allowing deduction under sections 80hh and 80-i and the authorities below ..... amended, are not in conformity with the provisions of law. it is a settled position of law that the terms of the partnership cannot override the provisions of it act and in the event of any conflict between the terms of partnership deed and provisions of the taxing statute, the latter shall prevail over the former.16. from the discussion made in the preceding ..... done, it cannot be said that section 40(b), after the amendment made by the finance act, 1992, entirely debars the admissibility of the interest and remuneration paid to the partners.15. the learned counsel for the assessee has also contended that the deed of partnership of the assessee-firm was duly amended to provide specifically that the interest and remuneration to .....

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Oct 13 2006 (TRI)

Assistant Commissioner of Income Vs. Vijay Kumar Patni, Ajay Kumar

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2007)108ITD409(Nag.)

..... and not ao. as per section 2(23) the words 'firm1, 'partner' and 'partnership' shall have meanings respectively assigned to them in the indian partnership act, 1932. as per the indian partnership act, 1932, the persons constituting the partnership are individually called partners and collectively called firm. thus though under the it act, 1961, the firm and partners are separate assessable entities, the firm is not a ..... and if the revenue satisfies the court that the case falls strictly in the provisions of law, the subject can be taxed.referring to the provision of indian partnership act, 1932, shri jaiswal submitted that the partnership is the relation between the persons who have agreed to share the profits of the business carried on by all or any of them ..... acting for all. as per section 2(23) of the it act, 'firm', 'partner' and 'partnership' have the meanings respectively assigned to them in the indian partnership act, 1932. the assessees who are partners, are related to each other and have total control over the ..... affairs of the firm. there is no prohibition in the partnership deed for withdrawing any sum standing to the credit of .....

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May 31 1999 (TRI)

Assistant Commissioner of Income Vs. Shaktikumar M. Sancheti

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2000)73ITD194(Nag.)

..... held as under : "held that, in view of the clear finding of the tribunal that the partnership was both valid and genuine and since there was no legal bar to the formation of such partnership, the firm was entitled to registration under s. 26a of the indian it act, 1922, and such a firm cannot be denied registration merely because there would be some loss ..... supreme court's decision in the case of amritlal bhogilal & co.(supra) wherein it was held as under : "an order granting registration to a firm under s. 26a of the indian it act, 1922 merely affects or governs the procedure in collecting or recovering the tax found due from a firm and is separate from and independent of the order of assessment." 17 ..... the ao has taken decision after discussing the matter with the authorised representative of the assessee and after considering the application for registration, declaration and partnership deed, as the assessment order is framed after scrutiny under s. 143(3) of the act. the return of income and the status claimed therein were subjected to the scrutiny under s. 143(3) of the ..... act with reference to declaration in form no. 12, applications in form nos. 11 and 11a and partnership deed and the registration was granted after the ao was satisfied that application is in time and order and genuine firm has come into existence .....

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Apr 13 1954 (TRI)

Smt. Sahodradevi N. Daga Vs. Commissioner of Income-tax, M. P.

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : 195527ITR9(Nag.)

..... tax officer was rarely in a position to prove that the alleged partition, or the participation of the minors in the benefits of partnership, and the alleged partnership with wife were unreal. tax was also sought to be avoided by transferring directly or indirectly the fathers or husbands assets in the ..... child was legal avoidance of the tax.5. as stated in the statement of objects and reasons, this act was passed to check the widespread practice of evading taxation by means of nominal partnerships between husband and wife or parent and minor child, or by the nominal transfer of assets to a ..... three minor sons to the total income of the assessee under section 16 (a) (ii) of the act and this order was confirmed by the appellate tribunal.3. under the indian income-tax act, tax is payable on the total income of every individual, hindu undivided family, company and local authority, ..... a reference under section 66 (1) of the indian income-tax act, by which the following question is referred to this court for decision :- "whether on a true construction of the provisions of section 16 (3) (a) (ii) of the india income-tax act, 1922, the income of the 3 minor sons ..... and of every firm and other association of persons or the partners of the firm or the members of an association individually. the word "individual is not defined in the act or in the general clauses act .....

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Feb 09 1955 (TRI)

R. B. N. J. Naidu Vs. Commissioner of Income-tax,

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : 195629ITR194(Nag.)

..... facts which the tribunal has stated.it is not, therefore, necessary to refer the case back to the tribunal under section 66(4) of the indian income-tax act.3. the assessee runs the business of exhibiting pictures at various cinema houses in nagpur. during the assessment year 1946-47 there were two credits, one ..... and it was for reason that it was held that he question whether the assessment, which was made under the provisions of section 13 of the indian income-tax act, was proper or not was one of fact. that was, however, a decision which was peculiar to the facts of the case and did not ..... servant or principal and agent.10. it cannot be postulated as an axiom that no burden ever less on the department in cases arising under the indian income-tax act. for instance, where an assessee should deny that he is in receipt of income from a particular source, it is for the income-tax ..... come to the conclusion that the sum in question was income. the facts also admitted the applicator of illustration (g) of section 114 of the evidence act, in that on account of the failure of the assessee to adduce evidence which could be produced the income-tax officer was competent to presume that ..... officer to prove that he made the income, for the assessee cannot prove the negative : in re bishnu priya choudhurani. so also where an assessee prima facie establishes a partnership, .....

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Jun 29 1955 (TRI)

D. R. Dhanwatay Vs. Commissioner of Income-tax.

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : 195629ITR257(Nag.)

..... partners of the firm were the assessee, his wife and four major sons. the two minor sons of the assessee were admitted to the benefits of the partnership. thus there were in all eight person, each having a two anna share, amongst whom the profits of the firm were to be divided. in the ..... of assessment by virtue of the provisions of section 16(3)(a)(i) and (ii) of the indian income-tax act. shri bandevar, however, overlooked the provisions of section 16(3)(a)(i) and (ii) of the act when he assessed the assessees income for the year 1946-47. he assessed the assessee, his wife and ..... discovery must be based on definite information having come into his possession. as regards the pre-existing law the learned judge observed : "section 34 under the act before the amendment of 1939 provided that if for nay reason income, profits or gains chargeable to income-tax had escaped assessment in any year, or had ..... the information before him that there was ground for thinking that the income had escaped assessment or been under-assessed. it will be seen that the amending act of 1939 introduced two important changes in section 34. in the first place, it required that the income-tax officer must come into possession of a " ..... any year, or have been under-assessed, or have been assessed at too low a rate, or have been the subject of excessive relief under this act the income-tax officer may, in any case in which he has reason to believe that the assess has concealed the particulars of his income of .....

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