Court : Chennai
Reported in : AIR1954Mad892; (1954)IIMLJ149
..... and care; that which busies or occupies one's attention and labour as his chief concern; mercantile pursuits; that which one does for a livelihood; occupation; employment. (section 2(b), indian partnership act; -- 'calcutta, turf club v. secy. of state', : air1921cal44 (a); -- 'exparte breeull', 1881 16 ch. d. 484; -- 'a minck v. roshanlal', air 1931 lah 390 (c).6. according to ramanatha aiyar ..... these judicial definitions to the facts of the present case, we find that the respondent has been carrying on automobile business and towards that end he has been performing several acts like building the factory at a cost of six or seven lakhs of rupees at no. 230 thiruvottiyur high road, tondiarpet, shifting of the machinery from calicut and applying for ..... 's 'law lexicon' (m. l. j. office) the phrase 'carrying on business' implies a repetition or series of acts. (per brett j. in -- 'smith v. anderson', (1880) 50 lj ch 39). this phrase 'carrying on business' is in itself one of varying import according to as it is construed ..... and fortunately for us both these terms have judicially been defined.5. the term 'business' includes every trade, occupation and profession. according to section 2(4) of the income-tax act, 1922, 'business' includes any trade, commerce, or manufacture or any adventure or concern of the nature of trade, commerce or manufacture. the word 'business' has no technical meaning, but is .....Tag this Judgment!
Court : Mumbai
Reported in : AIR1955Bom16; (1954)56BOMLR718; ILR1954Bom1093
..... rate of interest remains stationary and their right to receive the interest is contingent upon-the firm making gross profits.if one were to look at the partnership act, under section 13(d) a partner is entitled to receive 6 per cent, if he brings into the firm any moneys-beyond what he is liable ..... the minors to bring in moneys into the firm or to contribute any capital. therefore, even independently of the partnership deed they would be entitled to 6 per cent, interest under section 13(d), partnership act. in one sense, by agreeing to clause (3) the minors have limited their right which they would otherwise ..... have under the partnership law.6. it is then urged by mr. joshi that on a true construction of section 16(3 ..... share in the profits, to retain that share and to pay interest under clause (3).4. if, therefore, this be the true position under the partnership deed, can it be said that the interest which the minors earned on the deposits was an income which directly or indirectly arose from their admission to ..... to their credit in the firm are liable to be included in the total income of the assessee under s. 16(3)(a)(ii) of the indian income tax act? (2) whether the premia paid out of the moneys belonging to the minors, mahesh bhogilal and arvind bhogilal, for effecting insurance on their respective .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR1954SC364; 25ITR449(SC); 1SCR393
..... or business in the ordinary sense of the term. 18. when a partnership firm comes into existence it can be predicated of it that it carries on a business, because partnership according to section 4 of the indian partnership act is the relation between persons who have agree to share the profits of ..... a business carried only by all or any of them acting for all. (see inderchand hari ram v. commissioner of income ..... trade, commerce or manufacture or any profession or vocation but not to include a profession carried on by an individual or by individuals in partnership if the profits of the profession depend wholly or mainly on his or their personal qualifications unless such profession consists wholly or mainly in ..... ) which were referred by the commissioner to the high court at hyderabad have not been seriously pressed before us. whether the appellants are a partnership firm or a registered company the principle of exclusion of the income from the category of business income by reason of its depending wholly or mainly ..... a company is incorporated it may not necessarily come into existence for the purpose of carrying on a business. according to section 5 of the indian companies act any seven or more persons (or, where the company to be formed will be a private company, any two or more persons) associated .....Tag this Judgment!
Court : Mumbai
Reported in : (1954)56BOMLR973
..... it imposed unreasonable restrictions on the defendant, and must, therefore, be held to be in restraint of trade. now, section 54 of the partnership act in terms exempts such an agreement from the operation of the rule which renders an agreement in restraint of trade as void under our law ..... was next argued that in any case the right which the plaintiffs seek to enforce is one expressly conferred by the partnership act. reference was made to section 54 of the partnership act which is as follows :-partners may, upon or in anticipation of the dissolution of the firm, make an agreement ..... as the dissolved firm of cipra bakelite co. in which plaintiff no. 1 and the defendant were partners had not boon registered under the partnership act. the argument was that this was a suit substantially by plaintiff no. 1 who was suing to enforce a right arising from a ..... 9. section 27 of the indian contract act in broad and comprehensive terms lays down the rule that every agreement by which any person is restrained from exercising a lawful trade or business of any kind, is, to that extent, void. section 54 of the partnership act recognises one of the necessary ..... that some or all of them will not carry on a business similar to that of the firm within a specified period or within specified local limits; and notwithstanding anything contained in section 27 of the indian contract act .....Tag this Judgment!
Court : Chennai
Reported in : AIR1955Mad274
..... i shall give my findings on the issues :9. issue no. 1: ex. p. 47 shows that the plaintiffs' firm has been registered under the indian partnership act before the filing of the suit. learned counsel for the defendants admitted this. this issue is, therefore, found is favour of the plaintiffs and against defendants ..... contentions will be clear from the issues framed in the case.2. the issues were :1. is the firm of the plaintiffs registered under the indian partnership act?2. were the goods in question consigned at railway risk or at owner's risk?3. was the consignment in question destroyedby fire on the ..... at pathankot, to affix danger labels on this wagon as required by rule 32 of chapter ii, appendix a, of the rules framed under the indian railways 'act. rule 22 runs as follows:'a dangerous label, i. e. a white label with a red cross on it, shall be affined to both ..... inflammable and dangerous goods, like petrol or kerosene or turpentine, in wooden wagons, against rule 8 of chap. ii, appendix a, of the indian railways act. but it is well settled that in the absence of proof of misconduct, leading to destruction or loss of goods, the plaintiffs cannot recover damages ..... other cases & from the conditions noted in risk notes a and z, and was not disputed. the bailee's liability under sections 151 and 152, indian contract act, arising from mere, negligence not amounting to misconduct, cannot be fastened on the railway authorities, because the goods were not carried at railway risk, but .....Tag this Judgment!
Court : Kolkata
Reported in : AIR1955Cal278
..... was that the whole reference to arbitration was invalid, inasmuch as the respondent-firm was not a registered firm and therefore it was prevented by section 69(3) of the indian partnership act from making any reference to arbitration. the argument was that whilst sub-sections (1) and (2) of section 69 were limited to proceedings in court, sub-section (3) was not ..... , j., in the very careful judgment, are extremely cogent and completely negative the construction sought to be put by mr. dutt upon the words of section 69(3) of the partnership act. chatterjee, j., referred in extenso to the definition of 'proceeding' as given, in several decided cases and came to the conclusion that section 69(3) did not preclude a reference ..... was rs. 60-8-0 also per 100 yards. on a reference being made to arbitration under a clause which is in the usual form to be found in the indian jute mills association contracts, the arbitrators have made an award computed on the difference between the rates fixed under the two contracts. 3. mr. dutt's first point before us ..... order laid down a ceiling price and since the rate alleged by the respondents to have been fixed by the contract of september was above that ceiling, the arbitrators had acted illegally in computing the measure of the damages by reference to a rate not warranted by ' jaw. again, it is impossible to see that the jute goods control order has .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : AIR1955AP12
..... at page 113 as follows:'we have now rules, mainly following those laid down in the english act, for dissolution by consent (section 40 by operation of law (section 41) automatically (section 42) optionally (section ..... to 44 tha act. in the contract act the circumstances under which the dissolution of a partnership takes place, and its consequences are not exhaustively and separately laid down. but in the partnership act, a separate chapter has been allotted and definite rules are prescribed for dissolution and its consequences. pollock and mulla in their book on the indian partnership act summarise the relevant sections ..... not the legal effect of dissolving it.(11) the next question is whether the death of burugu veerayya on 17-7-1939 had such an effect. section 42, partnership act governs the situatioin. it reads:'subject to contract between the partners a firm is dissolved.................................(c) by the death of a partner.'under this section, a firm is ..... firm, and (ii) what is the effect of the death of a parnter on its constitution?(8) before the enactment of the partnership act in the year 1932, the rights of the lpartners were governed by the contract act. section 253 prescribed the rules determining the partner' mutual relations where there is no contract to the contrary. section 253, c. ( .....Tag this Judgment!
Court : Chennai
Reported in : AIR1955Mad442
..... of p. arunachalam and co., which the surviving partner started. 10. the learned judge held that on the facts the terms of section 37, indian partnership act were not attracted and that the business started by arunachala was an entirely new one though he had overdrawn from the dissolved firm to the extent of ..... air1955mad171 (b) that there might be exceptional cases of fraudulent or improper conduct on the part of the partners which might attract the principle of section 37, partnership . act even to a case where the suit was one for dissolution and accounts. the later case reported in -- 'hakim rai v. gangaram air 1942 pc 61 ..... of a business in the same line by a surviving partner does not by itself render him liable to the obligation enacted by section 37, partnership act. 19. the next point to be considered is the effect of withdrawal by arunachala of rs. 20,000 on 30-6-1947 and its utilisation ..... 's own credit. this the surviving partner was entitled in law to do. in this connection reference may be made to certain other provisions of the partnership act which renders the position clear. under section 16 : 'subject to contract between the partners, (a) if a partner derives any profit for himself from ..... rule is that if the surviving partner in breach of the right of the quondam partner or his representatives under section 46, partnership act to have the accounts settled and the affairs of the firm wound up and the surplus if any distributed, continues the business, the partner who .....Tag this Judgment!
Court : Punjab and Haryana
Reported in : AIR1956P& H24
..... second appeals.2. the only point now raised in the appeals is whether the suits could proceed in view of the provisions of section 69(2), indian partnership act, which reads:'69(2) -- no suit to enforce a right arising from a contract shall be instituted in any court by or on behalf of ..... was a partner of the firm it ought to have been held that he was one of the persons suing within the meaning of section 69(2), partnership act, and that, therefore, it was necessary, for the suit to be instituted at all, that his name should be shown as a partner in the register ..... expired, the suit should be dismissed.in the first place the words of section 171, companies act are not identical with those of section 69, partnership act, and the observation that the proceedings in a suit brought by an unregistered partnership firm are validated by registration of the firm 'pendente lite' was simply an 'obiter dictum' ..... on the point we came to the conclusion that the view expressed by ram lall j. was wrong and, that in order to institutea suit a partnership must be a registered firm on the date on which the suit is instituted and thatsubsequent registration cannot validate the defect.9. the question which arises ..... in the name of harjas rai alone, who was to carry on his own business there.copies of these resolutions were sent to the registrar of partnerships in november 1942 under section 63 with an intimation that harjas rai had ceased to be a partner. thereafter in 1946 maharaj narian and feroze din .....Tag this Judgment!
Court : Mumbai
Reported in : AIR1956Bom63; (1955)57BOMLR950
..... of fact a partner he is rendered liable to that other as a partner and 'ouod' that person regarded as one of the partners carrying on that business.section 28, partnership act reproduces this doctrine of 'holding out' which is a part of thelaw of estoppel. therefore, there is some support to be derived from the language of order. 30, rule 1 ..... of the code, and section 28, partnership act for giving full meaning and effect to the words at the end of the sub-rule under consideration.the words 'liable as partners' and 'liable as a partner' used in .....Tag this Judgment!