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Judgment Search Results Home > Cases Phrase: indian partnership act Sorted by: old Year: 1970 Page 1 of about 131 results (0.171 seconds)

Jan 16 1970 (HC)

P.K. Trading Company Vs. Income-tax Officer, k Ward

Court : Kolkata

Decided on : Jan-16-1970

Reported in : [1970]78ITR427(Cal)

..... from giving any effect to the impugned notices.2. the facts as alleged in the petition are shortly as follows: under a deed of partnership dated the 24th july, 1960, and registered under the provisions of the indian partnership act, one bimala devi rateria, the wife of jaidayal rateria, and one krishnakanta rateria, wife of dewan chand rateria, agreed to carry on business ..... with equal shares on and from the aforesaid date under the name and style of p. k. trading company. subsequently, the partnership was reconstituted under a fresh deed of ..... by one nandanandan mishra, the present incumbent to the post of income-tax officer, 'k' ward, district 1(1), calcutta, it is stated, inter alia, that the alleged partnership constituted by these two ladies was started with initial capital contributed from the sale of immovable properties which were originally acquired out of the funds provided by their respective husbands ..... capital of the business was unexplained and he deleted the addition made on that account. the two husbands, jaidayal rateria and dewan-chand rateria, carry on business in co-partnership under the name and style of dunichand sons & co. whose assessments are made by the first respondent herein while they are also assessed separately in their individual, capacity by .....

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Jan 19 1970 (HC)

Union of India (Uoi) and anr. Vs. Salankayala Pulleswara Rao

Court : Andhra Pradesh

Decided on : Jan-19-1970

Reported in : [1972]85ITR109(AP)

..... the facts of the present case. this is a case distinguishable on facts as the state is now seeking a priority over a decree for the distribution of the partnership assets. the indian partnership act has a specified scheme of distribution of assets on dissolution. the relevant sections are sections 46, 48 and 49 which may be extracted for easy reference :section 46 : 'on ..... and sub-section (2) of section 232.'12. obviously, the decision puts the matter in issue beyond all reasonable doubt that the provisions of the partnership act under which the decrees have been passed relating to the partnership assets have to be looked to and would form a complete code for working out priorities, if any.13. in this context i have also ..... disturbed by reading into it a priority which is not expressly provided thereunder. it is manifest that there is nothing in the partnership act which provides for a priority of debts due under the income-tax act and the sales tax act. i am fortified in my view by the statement of the law by the federal court in governor-general in council v ..... federal court said at page 19 of the judgment :'we have no hesitation in coming to a conclusion and holding that the crown is bound by the provisions of the indian companies act, 1913, and is bound, in regard to the provisions relating to the liquidation of companies, 'to a statutory scheme of administration wherein the prerogative right of the crown to .....

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Jan 20 1970 (HC)

Challa Appalaswamy Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Decided on : Jan-20-1970

Reported in : [1971]82ITR731(AP)

..... the department requires the assessee to do. in interpreting the relevant clauses in the instrument of partnership, care has to be taken to find out whether such clauses contravene the provisions of section 30 of the indian partnership act, the relevant portion of which reads as under :'30. (1) a person who ..... evident that the profits can be divided between the partners as per the terms agreed upon by them under section 30(2) of the partnership act. the aluminium business and thecrucibles business have been treated as separate units by the assessee-firm-separate accounts have been maintained for each of ..... his conclusion on relevant evidence.'8. the assessee-firm has been constituted under an instrument of partnership, specifying the individual shares of the partners within the meaning of section 26a(1) of the indian income-tax act, 1922. it has, under rule 2 of the income-tax rules, applied to the income ..... accordance with the respective shares of the partners he couldin the exercise of powers vested in him impose a penalty under section 28 of the indian income-tax act, 1922, but could not in any case refuse or cancel registration.6. as against the above arguments, the learned counsel, sri ramarao, ..... of the indian income-tax act, 1922, for the assessment year 1960-61 and 1961-62 and under section 256(1) of the income-tax act, 1961, for the assessment year 1962-63.3. the question, for its answer, depends upon the interpretation of the relevant clauses of the instrument of partnership. they .....

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Feb 03 1970 (HC)

Santdas Moolchand Jhangiani and anr. Vs. Sheodayal Gurudasmal Massand

Court : Mumbai

Decided on : Feb-03-1970

Reported in : AIR1971Bom237; (1971)73BOMLR42; ILR1971Bom457; 1970MhLJ419

..... provides for transfer of goodwill after dissolution and the consequent agreements in restraint of trade.9. it will be noticed from the above arrangement of chapter vi of the indian partnership act that matters pertaining not only to the fact of dissolution and fixing the date thereof but also matters arising out of the fact of dissolution which pertain to the winding ..... separate and distinct matters or they are accessory to the principal object of the instrument. taking into consideration the fact that the legislature itself in the indian partnership act has treated the winding up of partnership as a part of its dissolution and the principles laid down which are set out hereinabove, we have no hesitation in coming to the conclusion that the ..... various ways therein provided, whereas sections 46 to 55 related to winding up and not to dissolution. we, however, find that the entire chapter vi of the indian partnership act tom section 39 to section 55 has been included in the chapter heading 'dissolution of a firm'. the legislature obviously intended to make no distinction between dissolution as such ..... the leading object or are separate and distinct, must in india depend upon the provisions of the indian partnership act, 1932, and the bombay stamp act, 1958.8. chapter vi of the indian partnership act, 1932; deals with 'dissolution of a firm'. section 39 provides that the dissolution of partnership between all the partners of a firm is called the 'dissolution of the firm'. 'dissolution of .....

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Feb 04 1970 (HC)

Erandol Taluka Gramodyog, Utpadak Sahakari Society, Erandol Vs. Sunil ...

Court : Mumbai

Decided on : Feb-04-1970

Reported in : AIR1971Bom91; (1970)72BOMLR620; (1970)6CompLJ212(Bom); 1970MhLJ923

..... and a decree was passed in its favour. when the decree was sought to be executed, the judgment-debtor objected on the ground that under section 69(2) of the indian partnership act a suit by an unregistered firm was not maintainable and, therefore, the decree passed in favour of such unregistered firm was a nullity. the patna high court held that:--'the ..... the subject-matter of the suit or over the parties to it.3. section 164 of the maharashtra co-operative societies act is mandatory in its terms just like section 3 of the limitation act or section 69(1) of the indian partnership act, 1932. what section 164 does is to require that the requisite notice should be given prior to the institution of the ..... in section 69(2) is only to the institution of the suit. the plea of non-maintainability of a suit, on behalf of an unregistered firm under section 69(2), partnership act, is, as such, not available to a judgment-debtor at the execution stage. such an objection should be taken in the suit itself before the passing of the decree. if ..... , has no jurisdiction to go behind such a decree.' the bar to maintainability of the suitenacted in section 69(2) of the partnership act is in language identical with that of section 164 of the maharashtra co-operative societies act. the material provisions of section 69(2) are:--'no suit to enforce a right arisingfrom a contract shall be instituted in any court .....

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Feb 13 1970 (SC)

SaifuddIn Hussinbhay Siamwala Vs. the Burma Cycle Trading Co.

Court : Supreme Court of India

Decided on : Feb-13-1970

Reported in : (1971)3SCC881

..... can be allowed to be adduced on matters which are neither pleaded nor put into issue. it is quite clear that section 69(3) of the indian partnership act had no applicability in such circumstances and the high court was in error in going into this matter at all.7. the allegations in the eviction petition ..... is whether the present suit for eviction under the provisions of the madras buildings (lease and rent control) act, 1960, hereinafter called the act, was barred by virtue of the provisions of section 69(3) of the indian partnership act owing to the non-registration of the firm of which the four appellants are the partners.2. the ..... it was held that the high court could not have decided the case on the basis of the bar contained in section 69(3) of the partnership act there can be no doubt and it has not been disputed that the order of the rent controller had been correctly made.8. the appeal is ..... be said that all the appellants were entitled to the possession of the building within the meaning of section 10(3)(a)(iii) of the act.5. section 69 of the partnership act, to the extent, it is relevant is in the following terms:69. (1) no suit to enforce a right arising from a ..... the register of firms as partners their petition for eviction was not maintainable under the act since it was a proceeding to enforce a right arising out of a contract within the meaning of section 69(3) of the partnership act. he even expressed the view that although the landlords of the premises in question .....

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Feb 19 1970 (HC)

Commissioner of Income-tax, A. P. Vs. Mandyala Govindu and Co.

Court : Andhra Pradesh

Decided on : Feb-19-1970

Reported in : [1971]82ITR926(AP)

..... losses, the partners must be held to be liable to contribute equally to the losses sustained by the firm as provided under section 13(b) of the indian partnership act. no doubt, section 13(b) of the indian partnership act lays down that, subject to contract between the partners, the partners are entitled to share equally in the profits earned, and shall contribute equally to the ..... , is made liable for the losses also in the proportion mentioned in clause 2 or equally with the other partners. that being so, the partnership cannot be said to be void. under section 30 of the indian partnership act, though a person who is a minor according to law to which he is subject may not be a partner in a firm, he may ..... partnership is a condition precedent for entitling the firm to registration. resorting to the application of section 13(b) of the ..... section 26a requires specification of shares in the instrument of partnership, any determination of the share of the partners in the profits or in the losses not with reference to the particular instrument but by resort to section 13 of the indian partnership act would be to supply the omission in the instrument of partnership. specification of shares of the partners in the instrument of .....

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Feb 26 1970 (HC)

Hoshiarpur Electric Supply Co. Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Feb-26-1970

Reported in : [1971]79ITR164(P& H)

..... this act gives the definition of partnership as the relation between persons who have agreed to share the profits of a business ..... counsel for the assessee has been that every time there was a new and an independent partnership, and the last partnership, that is, the assessee, stands by itself, not being a continuation of any of the previous partnerships. the learned counsel has referred to the provisions of the indian partnership act, 1932 (9 of 1932), in support of this part of his argument. section 4 of ..... carried on by all or any of them acting for all, and collectively the partners are called ..... the business of. generation and distribution of electricity in the town of hoshiarpur and its suburbs. a copy of this partnership deed has not been produced. on the same date they made an application under section 3 of the indian electricity act, 1910 (act 9 of 1910), to the punjab state government for the grant of a licence for the purposes for which they .....

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Mar 07 1970 (HC)

B.N. Pinto Vs. Commissioner of Income-tax, Mysore

Court : Karnataka

Decided on : Mar-07-1970

Reported in : [1972]85ITR448(KAR); [1972]85ITR448(Karn)

..... entitled to interest on the amounts due at 5 per cent. per annum. in regard to the remaining two firms, by virtue of section 37 of the indian partnership act, the legal heirs of the deceased because entitled to interest at 6 per cent. on the amount of the deceased's share in the properties of the ..... carried on the business of the said five firms even after the death of the assessee's husband. by virtue of the provisions of section 37 of the indian partnership act, 1932, the assessee who is the legal representative of the deceased, j. b. pinto, became entitled to interest at the rate of 6 per cent. ..... assessee. the question of law referred for our opinion is : 'whether, on the facts and in the circumstances of the case, and the provisions of the partnership act, the sum of rs. 50,000 was properly assessable in the previous year relevant for the assessment year 1962-63 ?' 2. the material facts as found by ..... firms. therefore, by virtue of the statute and also by virtue of the terms of the partnership deeds, the assessee became entitled to interest from the death of her husband; the interest accrued to her as found by the income-tax officer between july ..... of accounting it was not open to the income-tax officer, unless he proceeds to act under the proviso to sub-section (1) of section 145, to make the assessment on the cash basis. under there of the five partnership deeds, accounts were to be taken as on the date of death of one of .....

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Mar 09 1970 (HC)

N. Ranganayakulu Vs. J. Narasimharao and Company and ors.

Court : Andhra Pradesh

Decided on : Mar-09-1970

Reported in : AIR1971AP58

..... the decision is impliedly an authority for the view the partners are personally liable for the satisfaction of firm's debts. section 49 of the indian partnership act categorically provides for recourse against the personal assets of partners for the satisfaction of firm's debts. when the personal liability is made out, ..... in prison for the satisfaction of the debts of the firm. counsel was not able to draw my attention to any provision of the indian partnership act which lends support to his thesis that there is an inhibition on the creditor's rights to seek such remedies as the civil procedure code allows for ..... the relation of the decretal debt from the partners. section 25 of the indian partnership act makes it plain that every partner is liable jointly with all the other partners and also severally for all acts of the firm done while he is partner. thus, the statute renders the partners liable ..... there is, however, no enunciation of a principle by the author, which precludes the mode of execution by arrest for the recovery of a partnership debt from an individual partner. the passage relied on by the learned counsel does not support his proposition. at page 278 the learned author dealt ..... (hereinafter referred to as the debtor) and that a partner cannot be subjected to the coercive process of arrest for the recovery of a partnership debit in respect of which such personal liability has not been expressly undertaken by the partner concerned. it is further urged by him that the .....

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