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Judgment Search Results Home > Cases Phrase: indian partnership act Sorted by: old Year: 1945 Page 1 of about 25 results (0.099 seconds)

Mar 27 1945 (PC)

Penumatsa Rangaraju Vs. Sait Devichand Bhootaji Firm Partner Sait Sesh ...

Court : Chennai

Decided on : Mar-27-1945

Reported in : AIR1945Mad439; (1945)2MLJ113

..... firm. and it is recited in the note itself that the money was borrowed for the purposes of the partnership business. in these circumstances, there can be no question but that under sections 19 and 22 of the indian partnership act, 1932, the debt is binding on the firm, but the suit having been based solely on the note ..... , the question arises as to whether the note has been executed in such a form as to make the petitioner also liable on the note as a partner. section 27 of the negotiable instruments act enacts ..... not sufficient that they are done in any other manner expressing or implying an intention to bind the firm, which, under section 22 of the partnership act, would otherwise be sufficient to bind the firm, for the latter section must yield to the special provisions of the negotiable instruments ..... by his partner, the first defendant. the court below has found that the first defendant was the managing partner of a rice. mill business carried on in partnership with the second defendant and others under the name of sri kusumaharinadha rice mill at amalapuram in east godavari district, and that the money was borrowed for ..... act.3. it is not, however, necessary that the note should be signed by the partner in the name of the firm but the name .....

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Oct 10 1945 (PC)

Sohrabji Dhunjibhoy Medora Vs. the Oriental Government Security Life A ...

Court : Mumbai

Decided on : Oct-10-1945

Reported in : (1946)48BOMLR123

..... up under the indian companies act, 1913, or to which the indian partnership act, 1932, applies;[(9) 'insurer' is defined in terms which include the respondents but is expressed not to .include an insurance agent licenced under section 42 or a ..... or their predecessors in the years 1892, 1899, and 1917.5. in the year 1892 the respondents who were then, and still are, a company registered in bombay under the indian companies act carrying on business of life insurance, were mended to appoint one d, j. medora, the father, of the present appellants, who carried on business in the name of d ..... premiums on life policies effected through their agency after the termination of their appointment.(4) whether the appellants were entitled to commission on renewal premiums under the provisions of the indian insurance act (iv of 1938) after the termination of their appointment.(5) whether the appellants were entitled to retain and cash a cheque for; rs. 75,000 sent to them ..... of the contract under the indian insurance act of 1938 which came into force on july 1, .1939. the material provisions of that act as modified up to july 28, 1941, are the following:-section 2. in this act, unless there is anything repugnant in the subject or context,-(8) 'insurance company' means any insurer being a company, association or partnership which may be wound .....

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Oct 10 1945 (PC)

Sohrabji Dhunjibhoy Medora and Another Vs. the Oriental Government Sec ...

Court : Privy Council

Decided on : Oct-10-1945

..... wound up under the indian companies act, 1913, or to which the indian partnership act, 1932, applies; ((9) "insurer" is defined in terms which include the respondents but is expressed not to include an insurance agent licensed under s. 42 ..... on life policies effected through their agency after the termination of their appointment. (4) whether the appellants were entitled to commission on renewal premiums under the provisions of the insurance act (act 4, [iv] of 1938) after the termination of their appointment. (5) whether the appellants were entitled to retain and cash a cheque for rs. 75,000 sent ..... other remuneration in consideration of his soliciting or procuring insurance business. section 40. (1) no person shall, after the expiry of six months from the commencement of this act, pay or contract to pay any remuneration or reward whether by way of commission or otherwise for soliciting or procuring insurance business in india to any person except an ..... contract under the indian insurance act of 1938 which came into force on 1st july 1939. the material provisions of that act as modified up to 28th july 1941, are the following: "section 2. in this act, unless there is anything repugnant in the subject or context * * * * * * (8) "insurance company" means any insurer being a company, association or partnership which may be .....

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May 29 1945 (PC)

Commissioner of Income-tax Vs. P.E. Polson

Court : Mumbai

Decided on : May-29-1945

Reported in : (1945)47BOMLR737

..... vocation on which tax was at any time charged under the provisions of the indian income-tax act, 1918, (vii of 1918), is succeeded in such capacity by another person, the change not being merely a change in the constitution of a partnership, no tax shall be payable by the first mentioned person in respect of ..... was in the following terms:(3) where any business, profession or vocation on which tax was at any time charged under the provisions of the indian income-tax act, 1918, is discontinued, no tax shall be payable in respect of the income, profits and gains of the period between the end of the ..... can be briefly stated. it is whether the word 'discontinued' in section 25(3) of the indian income-tax act, 1922 (hereinafter called 'the 1922 act'), as amended by the indian income-tax (amendment) act, 1939 (hereinafter called 'the amending act'), means only a complete cessation of the business or whether it also includes the case of discontinuance ..... the indian income-tax act, 1922 (which in this respect differs from the english income-tax acts), the subject of charge is not the income of the year of assessment but the income of the previous year ..... that the referred questions should be answered in the negative.7. it is now necessary to refer to certain provisions of the indian income-tax act upon the interpretation of which this case depends.8. it must in the first place be borne in mind that under section 3 of .....

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May 29 1945 (PC)

Commissioner of Income-tax, Bombay, Sind and Baluchistan Vs. P.E. Pols ...

Court : Privy Council

Decided on : May-29-1945

..... vocation on which tax was at any time charged under the provisions of the indian income-tax act, 1918, is succeeded in such capacity by another person, the change not being merely a change in the constitution of and partnership, no tax shall be payable by the first mentioned person in respect of ..... the following terms: "(3) where any business, pretension or vocation .... on which tax was at any time charged under the provisions of the indian income-tax act, 1918, is discontinued, no tax shall be payable in respect of the income, profits and gains of the period between the end of ..... referred questions should be answered in the negative. it is now necessary to refer to certain provisions of the indian income-tax acts upon the interpretation of which this case depends. it must in the first place be borne in mind that under s. 3, income ..... in fact the amending provisions so far from raising any doubt as to the meaning ascribed to "discontinued" appear to enforce that meaning. under the unamended act, s. 25 (3) gave relief in the event of discontinuance : the amendment; introduced a qualification, not enlarging or altering the meaning of discontinuance ..... indian income-tax law upon which different views have been expressed by the high courts of bombay and madras. the question can be briefly stated. it is whether the word "discontinued" in s. 25 (3), income-tax act, 1922 (hereinafter called "the 1922 act"), as amended by the income-tax (amendment) act, 1939 (hereinafter called "the amending act .....

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Nov 08 1945 (PC)

Satyavart Sidhantalankar Vs. the Arya Samaj

Court : Mumbai

Decided on : Nov-08-1945

Reported in : AIR1946Bom516; (1946)48BOMLR341

..... capable of suing or being sued except by statutory provisions in that behalf as in the case of partnership firms, corporations or companies incorporated under the indian companies act, could it be said that a society registered under the societies registration act xxi of 1860 becomes a legal entity such as can sue or be sued in the name in ..... lands in succession, have: not a common seal, and want other characteristics of complete incorporation. as regards the companies which are incorporated under the indian 'companies act, section 23 of the indian companies act enacts that from the date of incorporation mentioned in the certificate of incorporation the subscribers of the memorandum, together with such other persons as may from ..... for the purpose of filing; a suit, by or against a partnership. the society of the character we have before us is, however, quite distinct from a partnership. it has nothing in common with a partnership. a corporation or a limited company which is incorporated under the indian companies act has a corporate existence apart from the members constituting the same. a ..... corporation has been defined as a collection of individuals united into one body under a special denomination having perpetual succession under an artificial form and vested by the policy of law with the capacity of acting .....

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Mar 23 1945 (PC)

B. M. Kamdar, in Re.

Court : Mumbai

Decided on : Mar-23-1945

Reported in : [1946]14ITR10(Bom)

..... in point, because in that case what was brought into british india were profits, profits existing and which were the assessees before the dissolution of the partnership firm, so that they in fact represented a taxable balance and not a gross receipt.the case of commissioner of income-tax, bombay v. chunilal ..... of all parties, been invested in the business so as to increase the capital account; nor had they had to consider any special provisions of the partnership articles which might affect the matter.the next case is commissioner of income-tax, bombay presidency and aden v. chunilal b. mehta. in that case ..... due for capital can be distributed. in other words, on dissolution of a partnership, an outgoing partner has the right to receive not as in the case of a shareholder in winding up a company only a share of the ..... what is due for capital. it can hardly be suggested that the partners share according to their capital proportions in the whole assets of the partnership. this sum due for undrawn profits was and remains a sum due by the partners to each partner : and necessarily ranks first before the sums ..... difficulty in discerning from the cross currents set up by the divers facts of the decided cases in which the nature of income taxable under the indian act has been considered, any principle which would cover the important question, which arises for decision on this reference, and accordingly the reference has been .....

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Mar 29 1945 (PC)

The Commissioner of Income-tax Vs. the Shanmugham Rubber Estate Kaulal ...

Court : Chennai

Decided on : Mar-29-1945

Reported in : (1945)2MLJ93

..... material for drawing the conclusion with regard to the control are the terms of the partnership deed, the residence of chockalingam chettiar in british india during the year of account and the fact that he had been asked by his agent for ..... his order said that it was reasonable to infer that the locus of control was usually in malacca where also all the partners were when the partnership agreement was drawn up and the business was started. we cannot accept this as the proper inference to be drawn. as we have indicated, the ..... period of account, but it has not been suggested that there was any change in the system of control made during that period. inasmuch as the partnership deed provided for the control of two partners and one of the controlling partners was resident in british india, the proper inference to be drawn, ..... of persons as the case may be, is deemed to be resident in british india for the purposes of the act.2. the partners in the assessee firm are six nattukottai chettiars. the partnership was formed on the 19th december, 1935, for the purpose of acquiring and working a rubber plantation in malacca known ..... is whether the respondent firm was resident in british india within the meaning of section 4-a (b) of the indian income-tax act. that section says that for the purposes of the act a hindu undivided family, firm or other association of persons is resident in british india unless the control and management of .....

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Mar 29 1945 (PC)

Commissioner of Income-tax, Madras Vs. the Shanmugham Rubber Estate.

Court : Chennai

Decided on : Mar-29-1945

Reported in : [1945]13ITR329(Mad)

..... materials for drawing the conclusion with regard to the control are the terms of the partnership deed, the residence of chockalingam chettiar in british india during the year of account and the fact that he had been asked by his agent ..... his order said that it was reasonable to infer that the locus of control was usually in malacca where also all the partners were when the partnership agreement was drawn up and the business was started. we cannot accepted this as the proper inference to be drawn. as we have indicated the ..... period of account, but it has not been suggested that there was any change in the system of control made during that period. inasmuch as the partnership deed provided for the control of two partners and one of the controlling partners was resident in british india, the proper inference to be drawn, ..... of persons as the case may be, is deemed to be resident in british india for the purposes of the act.the partners in the assessee firm are six nattukottai chettiars. the partnership was formed on the 19th december 1935 for the purpose of acquiring and working a rubber plantation in malacca known as ..... reference is whether the respondent firm was resident in british india within the meaning of section 4a (b) of the indian income-tax act. that section says that for the purposes of the act a hindu undivided family, firm or other association of persons is resident in british india unless the control and management of .....

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Jan 15 1945 (PC)

Wallace Bros. and Co. Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Decided on : Jan-15-1945

Reported in : (1945)47BOMLR153

..... however holds a 14/32 share in the firm of messrs. wallace and co. carrying on business in bombay. the other partners, as per the partnership deed of 1935, were seven individuals therein named. the income of seventeen lakhs and odd derived by the appellant from british india was made up of the ..... the appellant objected to the inclusion in the assessment of its income from without british india and contended that the provisions of the indian income-tax act were ultra vires the indian legislature in so far as they authorised the inclusion of such income in the assessment. this is the principal question in the case ..... the tax-payer but the 'local situation of the source of income.' we are accordingly of the opinion that the impugned provisions of the indian income-tax act cannot be held to be extra-territorial in their operation.11. the second contention urged on behalf of the respondent that even if these provisions ..... on business in bombay and that the assessment was therefore rightly made under clause (1) of section 64. clause (1) of the partnership deed relating to wallace and company provides that wallace brothers and co., ltd., and seven other gentlemen therein named shall carry on business in ..... partnership as merchants and commission agents at bombay. the deed reserves extensive powers to wallace brothers and co., ltd., in respect of the .....

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