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Judgment Search Results Home > Cases Phrase: indian partnership act Sorted by: old Page 90 of about 37,633 results (0.110 seconds)

Sep 09 1983 (HC)

Commissioner of Income-tax, Mysore Vs. Confeitaria De Janeiro

Court : Mumbai

Reported in : (1983)37CTR(Bom)180; [1984]150ITR502(Bom); [1983]15TAXMAN331(Bom)

..... in the portuguese civil code. these obligations and rights were entirely different from those of partners under the indian partnership act. for instance, under the portuguese civil code, the wife has no power of management over the assets of the communion, whereas under the ..... partnership act, a partner could be excluded from rights of management only by agreement. a partner could seek for dissolution of the ..... to the contrary whereas a communion could be dissolved only upon the happening of certain contingencies. therefore, and according to the ito, a partnership contract could not simultaneously exist between the constituents in respect of the communion property till the communion is dissolved.5. the ito further opined ..... case, the tribunal is right in law in holding that the assessee was a duly constituted partnership firm and the said entity was entitled to the benefits of registration under section 185 of the income-tax act, 1961 ?'2. the commissioner had sought reference in respect of two further questions, but ..... according to the tribunal, they were covered by question no. 1 which is the sole question referred to us.3. we are concerned in this reference with the firm of messrs. confeitaria de janeiro. this firm was stated to be constituted by a deed of partnership .....

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Sep 16 1983 (HC)

Manohar Vs. State of Maharashtra and ors.

Court : Mumbai

Reported in : AIR1984Bom47

..... body corporate under s. 36 . under section 20, two or more societies with the previous approval of the registrar can enter into partnership for carrying out any specific business , or business and to such a partnership the provisions of indian partnership act, 1932, do not apply. sections 41 and 42 inter alia provide for exemption from compulsory registration of instruments relating to shares and ..... of the supreme court in gherulal parakh v. mahadeodas : air1959sc781 . in that case the court was required to construe the word'immoral' occurring in section 23 of the indian contract act. on a construction of the provisions of s. 23 and having regard to the juxtaposition in which the word occurs, as opposed to public policy in section 23, the ..... court in raghubar dayal v. union of india : [1962]3scr547 . in that case, the question related to the validity of some of the provsions of the forward contracts (regulation ) act, 1952 which canalised forward trading in the context of the recognised association. section 6 thereof required a recognised association not to amend its rules except with the previous approval of ..... bye-law and includes a chairman, vice-chairman, president, vice-president, managing director, manager, secretary, treasurer, member of the committee and any other person elected or appointed under this act, the rules or the bye-laws , to give directions in regard ot the business of such society.5. by a notification., published in the maharashtra government gazette dated july 29 .....

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Oct 04 1983 (HC)

Commissioner of Income-tax, Poona Vs. E.H. Kathawala and Co.

Court : Mumbai

Reported in : (1984)38CTR(Bom)194; [1985]151ITR348(Bom); [1984]16TAXMAN138(Bom)

..... and the successor firm.10. in our opinion, the legal position will have to be ascertained with reference to the provisions of the indian partnership act. section 42 of the indian partnership act provides that a firm is dissolved by the death of a partner, but this is made subject to a contract to the contrary ..... constitution of a firm. in our opinion, however, the correct legal position will have to be ascertained with reference to the provisions of the indian partnership act and the decision given must rest on the particular facts of each case. these decisions then may not have any general application and need not, ..... between the partners. we have already mentioned that we find no express provision, i.e., a contract to the contrary, in the partnership deed dated october ..... conduct of the surviving partners and the heirs of the deceased partner, after his death, may reflect the original intention of the founders of the partnership. the taking up as a partner of a son of the deceased partner in his stead and the continuation of the firm without dissolution is ..... at kolhapur in the name and style of e. h. kathawala & co. it carries on business in jaggery and acts as commission agents. it was first constituted under a deed of partnership executed in october, 1949. from time to time, the constitution of the firm has undergone various changes. we are .....

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Oct 14 1983 (TRI)

First Income-tax Officer Vs. Dr. P. Vittal Bhat

Court : Income Tax Appellate Tribunal ITAT

Reported in : (1983)6ITD560(Bang.)

..... said that the definition of business given in section 45 of the partnership act, 1890 (53 & 54 vict. c. 39), was an extended definition intended for the purpose of that act only. section 45 of that act says : . . . the expression "business" includes every trade, occupation, or profession.' section 2(b) of the indian partnership act, 1932, also defines 'business' thus : the observation of rowlatt, j. ..... products. question arose whether assembling of imported parts into a finished chassis amounted to the manufacture or production of an article within the meaning of section i5c of the indian income-tax act, 1922. the bombay high court held that it amounted to manufacture or production of an article. it was observed as under : thus looked at from any point ..... other. it is a complex of ideas and methods of practical execution and, therefore, must necessarily involve both tangible and intangible considerations. the words'industrial undertaking' in the indian income-tax act, 1922, should, in our view, be interpreted to mean any venture or enterprise which a person undertakes to do and which has relation to some industry or has ..... in this appeal is whether a radiologist who had installed x-ray unit in his clinic would be entitled to investment allowance under section 32a of the income-tax act, 1961 ('the act').2. the respondent-assessee is a consulting radiologist. he receives salary from some hospitals as a consultant radiologist. he also receives consultation charges from his own patients. .....

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Oct 26 1983 (HC)

Additional Commissioner of Income-tax Vs. Sunder Lal Banwari Lal

Court : Delhi

Reported in : (1984)39CTR(Del)112; [1985]156ITR617(Delhi)

..... assistant commissioner for similar reasons dismissed the appeal. 5. in the further appeal to the tribunal, construing the terms of the instrument of partnership deed dated july 10, 1959, in the context of the provisions of the indian partnership act, 1932 ('the partnership act'), it came to the conclusion that the earlier firm had been dissolved on march 3, 1965. the tribunal held that during the ..... of a partner would not dissolve the firm and, thus, on the death of mukat behari lal, the firm stood dissolved under section 42(c) of the partnership act. 10. chapter v of the partnership act deals with the rights and liabilities of incoming and outgoing partners in sections 31 to 38. section 31 provides that subject to contract between the partners and to ..... to allow registration on the ground that there is no instrument of partnership governing the firm after september 30, 1957, nor are the sharing of profits and losses specifically laid down. the appellate ..... , in which it was recited that the partnership constituted under the deed of april 18, 1957, was 'dissolved'. 14. for the assessment year 1958-59, for which the previous year was from february 1, 1957, to december 31, 1957, the firm applied on september 5, 1957, for registration under section 26a of the indian income-tax act, 1922. the income-tax officer refused .....

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Oct 31 1983 (TRI)

income-tax Officer Vs. Sreehari Lodge

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1984)7ITD282(Coch.)

..... by shri haridas was in his individual capacity and not by the firm. the implied authority conferred on the partners by section 19 of the indian partnership act by constituting him as an agent of the firm for the purpose of the business of the firm will not authorise him to transfer any ..... appeals), however, accepted the contention of the assessee. he held that the transfer of a partner's interest is recognised by section 29 of the indian partnership act, 1932, that when one of the partners transfers his interest and subsequently the other partners release their interest to the purchaser, there is no ..... of the|property as his own nor can he assign his interest in a specific item of the partnership property to anyone. it is true that under section 29 of the indian partnership act, a partner can transfer his interest in the firm. but he cannot transfer his interest in any particular ..... would not have been possible to effect a dissolution from an earlier date. the partnership deed had not mentioned how the dissolution should be effected. the matter was, therefore, governed by section 40 of the indian partnership act and the dissolution could, therefore, have been effected only with the consent of all ..... entries in the books of accounts and that till there is an effective partition or dissolution, the assets should be deemed to belong to the partnership for the purpose of computing the capital gains.7. as against this, the arguments of the learned representative for the assessee were to the .....

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Nov 18 1983 (TRI)

Smt. Bhavani C. Kundar Vs. Assistant Controller of Estate

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1984)9ITD785(Mad.)

..... supra) and, thus, supported the order of the commissioner (appeals).3. we have considered the rival submissions. under section 14 of the indian partnership act, 1932, property of the firm includes also goodwill of the firm. the deceased being a partner in the firm had an interest in the ..... or revaluation of the assets and liabilities of the firm. he submitted that no partner can claim any share in the interests of the partnership as long as the partnership is not dissolved. he placed reliance on a decision of the gujarat high court in babubhai harjivandas' case (supra). the learned departmental ..... deceased's share including profit till date of death in the firm. it was urged before the assistant controller that according to the terms of partnership deed dated 31-8-1963, the retiring partners or the legal representatives of the deceased partners were not entitled to a share of surplus arising ..... be 'property' within the meaning of section 2(15), explanation 2 of the estate duty act, 1953 ('the act') and that though it was not claimable by the legal representative in view of clause 13 of the partnership deed, its benefit accrued to the remaining partners. the extinguishment of the right at the ..... the extent of the share of the deceased as per clause 14 of the partnership deed. this will straightaway attract section 5 of the the said case also there was a similar clause in the partnership deed which stated that the retiring partner or the legal representatives of the deceased .....

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Nov 23 1983 (HC)

Mohatta Brothers Vs. Commissioner of Income-tax, Gujarat, Ahmedabad

Court : Gujarat

Reported in : [1985]153ITR247(Guj)

..... we are of the opinion that the factors which have been considered by the ito or the tribunal cannot conclude the matter. section 42 of the indian partnership act provides that a firm is dissolved, inter alia, upon the death of a partner subject to a contract to the contrary between the partners. the principle ..... 's case decided by the allahabad high court was one under s. 26 of the indian i.t. act, 1922, where the allahabad high court held that assuming that the death of the partner did not dissolve the partnership firm which continued even thereafter, it was impossible for the surviving partners to certify as required ..... -tax law also, the concept of a change in the constitution of a firm is interpreted on the same lines as in the partnership law, though s. 187 of the act of 1961 clearly specifies as to what would amount to a change in the constitution of a firm. the meaning which has been ..... to enable the ito to grant registration as provided in s. 184(8) of the act of 1961. the fact of a change in constitution of the firm can thus be established by producing the original partnership deed which was executed between the surviving partners and the deceased partner and also by production ..... that the profit or loss arose when the accounts were closed; and since no fresh partnership deed was executed, the firm was dissolved and the registration originally granted cannot be continued under s. 184(2) of the act. the assessee took the matter in appeal to the aac, who following the decision of .....

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Nov 23 1983 (HC)

Vishwanath Seth Vs. Commissioner of Income-tax

Court : Allahabad

Reported in : [1984]146ITR249(All)

..... but their shares are altered that will 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.'49. similarly in sant lal's case : [1982]136itr379(delhi) , it was observed (p. 390):'in our opinion the purpose ..... the income for the entire previous year. in our opinion, this is the correct legal position.37. it thus appears that under the general law of partnership under the indian partnership act as well as under the i.t. acts, the position is that a firm retains its identity and assessable entity in case of its reconstitution. it is hence the same person. if the ..... persons who have agreed to share the profits of a business carried on by all or any of them acting for all (s. 4 of the indian partnership act). incoming, outgoing, expulsion, insolvency, etc., of a partner are dealt with in chap. v of the indian partnership act whereas death of a partner, unsoundness of mind, incapability to perform duties, etc., are dealt in chap. vi. consequences ..... even in reconstitution of a firm there should be two assessment orders.45. as firm and partners under the i.t. act have to be understood in the sense assigned to it under the indian partnership act (s. 2(23) of the i.t, act), it may be examined whether a firm stands reconstituted or dissolved on death of a partner. section 4 of the .....

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Nov 30 1983 (TRI)

Vishnu Industries Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (1984)7ITD676(Hyd.)

..... , 1932, which defines 'partnership property'. it was repeated that 'there was no provision under the partnership act or under the indian registration act requiring such transfer to be registered'. the bombay high court (sic) while holding, in another context, that an individual who converted ..... indian registration act. this authority has also been approved again by another division bench of the patna high court in sudhansu kanta v. manindra nath air 1965 pat. 144....(p. 182) this decision as regards requirement of registration was followed by the high court again in cit v. amber corporation [1981] 127 itr 29 (raj.) after referring to section 14 of the indian partnership act ..... his individual asset to partnership one ceased to be the owner in his individual capacity so as to disentitle him from set off of unabsorbed depreciation ..... 1966 sc 1300. in this case, the supreme court has, inter alia, taken the view that the provisions of sections 14, 15, 29, 32, 37, 38 and 48 of the partnership act, 1932, make it clear that whatever may be the character of the property which is brought in by the partners when the .....

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