Court : Mumbai
..... to the above general proposition of law. the above position is also clear by virtue of sections 4, 25 and 26 of the indian partnership act, 1932. however where the legislation, specifically provides otherwise, then a partnership firm should be accorded a status of a separate legal entity. this has been so held by the supreme court in state of punjab ..... section 112(a) of the act. 42. this reference is disposed of in above terms. no order as ..... and cognate expressions, shall have the same meaning as in the indian penal code. 42: - person shall include any company or association or body of individuals, whether incorporated or not. indian partnership act, 1932 chapter ii the nature of partnership section 4: - definition of partnership , partner , firm and firm name partnership is the relation between persons who have agreed to share the profits ..... managing partner under section 112(a) of the act in the above cases. 41. it is made clear that the issue posed before us was only in respect of a partnership firm registered under the indian partnership act 1932. we have not in any manner dealt with partnership firm registered under the limited liability partnership act, 2008 and the liability of its partners under .....Tag this Judgment!
Court : Delhi
..... the supreme court in commissioner of income tax, madhya pradesh vs. dewas cine corporation [air 1968 sc 676] to the effect that under the indian partnership act, 1932, property brought into the firm by partners at the stage of initial constitution, or acquired in the course of the business, becomes the ..... subsequently, plaintiff was illegally removed from the post of director of wimpy. it was alleged thereafter that the agreement dated 01.12.1988, the partnership deed, the dissolution deed and other documents were void ab initio since they were entered into by the plaintiff and his partners as a result ..... by the registrar's office. the plaintiff and his partners secured a medium term loan facility from the fifth defendant ( the bank ?). the partnership firm was the debtor. the loan was for construction upon the suit property as well as for purchase and installation of plant and machinery. the ..... valid transfer. it is hereby also pointed out that the partnership deed per se cannot confer title rights on a particular property on any one partner. furthermore, the same was without any consideration and hence a void agreement under the indian contract act, 1972. 15. the appellant, it was urged, had ..... the right of redemption under section 58 of the transfer of property act, 1882, and as such the transfer of his title by the bank completely .....Tag this Judgment!
Court : Chhattisgarh
..... vide govt. of india's notification dated 20.01.1983. further the said establishment was taken over by m/s r.k. agarwal, contractor, which is a partnership firm registered under indian partnership act, 1932. m/s r.k. agarwal has taken over railway refreshment room, raipur in the year 1992 for five years and thereafter renewed the contract upto the year 2005. the ..... establishment has been registered under sales tax act, m.p. shop and establishment act, 1958. consequent upon taking over of m/s railway refreshment room, raipur by m/s r ..... the following background facts: - background facts: - 3. the petitioner is a private limited company registered under the provisions of the indian companies act and successor-in-interest of the original assessee namely m/s. r.k. agrawal and sons, a partnership firm, and is engaged in providing catering services at railway station, raipur. its work of selling food and other eatables and beverages ..... wages as defined in the law of lexicon ignoring the fact that section 2 (b) of the epf act defines basic wages and does not include commission . the appellate tribunal further went wrong in relying upon the decision of the supreme court in indian banks association (supra) which is clearly inapplicable to the facts of the present case, as in that case .....Tag this Judgment!
Court : Delhi
..... delhi 255. 63. in support of his submissions, on behalf of the plaintiffs, the arguments are addressed before the court that:- i) section 4 of the indian partnership act, 1932 provides under chapter ii and defines partnership as the relation between persons who have agreed to share the profits of a business carried on by all or any one of them. individually they are ..... the plaintiffs have entered into an agreement then the suit filed by all of them would not come within the bar of section 69(2) of the indian partnership act. it is submitted that the plaintiffs in any event in their plaint in para 1 had made a averment that they have applied for their registration on 12th november, 2014 ..... no.1, being an unregistered firm not registered with the registrar of firms, cannot maintain the present suit under the provisions of indian partnership act and the present suit is barred/ is not maintainable in view of the section 69 of the indian partnership act, 1932. both the suits are liable to be dismissed on this ground. ii) the requisite statutory notice under sections 477/478 ..... the court. 46. the main objections raised by ms. acharya are mentioned below: i) plaintiff no.1 was not a registered partnership firm on the date of filing of both suits. the suit was barred under section 69(2) of the indian partnership act, 1932. thus, the suit is liable to be dismissed. ii) the plaintiffs have suppressed documents namely letters no.dc (rpc .....Tag this Judgment!
Court : Delhi
..... transfer or assignment within the meaning of clauses aforesaid of the lease deed, as is contended by appellants landdo, unearned increase would be payable thereon. 11. a firm under the indian partnership act, 1932 is not a juristic person and has no entity independent from that of its partners and is merely a compendious name for its partners. the property of a firm ..... high court in vali pattabhirama rao vs. sri ramanuja ginning and rice factory (p) ltd. air 1984 andhra pradesh 176 relying on section 575 of the companies act, 1956 has held that if a partnership firm registered as a company, there was a statutory vesting including of all immovable property and no separate conveyance was required for the same; (h) that if ..... legal position. what the learned single judge, relying upon vali pattabhirama rao supra has however held is that since under section 575 of the companies act, there is a statutory vesting of the property of the partnership in the company and no separate conveyance deed is required to be executed, there is no transfer. 17. though we entertain doubts about the applicability ..... vs. rita mechanical works manu/ph/3828/2010 (db); and, cit vs. hansa footwear manu/ap/1017/2011 (db) holding that when an erstwhile partnership firm converts to a company under part ix of the companies act, even though there is transfer of assets from firm to newly constituted company but it is not a transfer within the meaning of section 45 .....Tag this Judgment!
Court : Delhi
..... only the jv who was entitled to file the present suit and not the respondent no.1. the partnership of jv neither proved nor registered within the meaning of section 69 of indian partnership act, 1932 and therefore, no suit could have been filed by unregistered partnership firm. the supreme court in the case of m/s. new horizon ltd. vs. union of india, 1995 ..... (1) scc 478 (para 27) has held, that the joint venture of companies is in the nature of partnership. xxx xxx xxx xxx ? 27. the ..... no locus standi to file the present execution petition in its own name. the same is barred under section 69 of the partnership act, 1932 as the decree-holder joint venture partnership company m/s bra-trg-bharat is an unregistered partnership company and thus cannot file any proceedings against the third party. 11. in order to establish his objection, judgment-debtor no.1 ..... the constituent of joint venture was the sole and only plaintiff, thus it is immaterial as whether joint venture consortium amounts to partnership and if so, if joint venture files any proceedings is it required to be registered under partnership act. there is no law or precedent that consortium of two or more companies (jv) formed for a particular business amounts to strictly .....Tag this Judgment!
Court : Mumbai Aurangabad
..... upon the death, retirement or insolvency of any partner. upon dissolution it shall be wound up and the assets and liabilities dealt with in accordance with the provisions of the indian partnership act. 13. ... ... ... 14. that it is specifically decided that all the documents whether registered or unregistered for purchase/ sale/ lease etc. of any immovable property flats, row houses or ..... point also involves the point of the scope of consideration of relevant points for such proceeding. 40. the aforesaid point has the base of provision of section 69 of indian partnership act, 1932 which gives effect of non-registration. relevant portion of section 69 is section 69 (1) (2) and (3) and it reads, as under: 69. effect of non-registration. - ..... failed to carry out his part of the agreement, application under section 8 (2) of indian arbitration act, 1940 was made after following the necessary procedure, for appointment of an arbitrator. jagdish chandra took defence that there was bar of provision of section 69 (3) of partnership act, to such proceeding. while allowing his objection, the apex court laid down as follows: ..... the 'dispute' and the terms of reference need to be ascertained very cautiously when there is objection like the objection available under section 69 (3) of partnership act. when section 69 (3) of partnership act has created a clear bar of referring some disputes to arbitration, it needs to be ascertained whether the dispute raised is also barred due to this provision, .....Tag this Judgment!
Court : Delhi
..... and haryana in dalip singh vs. jagdev singh manu/ph/3662/2011 where in paras 10 and 11 the language of sections 18 to 22 of the indian partnership act, 1932 has also been reproduced. it is argued that from the factum of the said shri s. surinder jit singh having been accepted as a ..... therein and the documents were also signed by the accountant of the firm. else, section 22 of the partnership act set out in the said judgment itself provides that in order to bind a firm, an act or instrument done or executed by a partner or other person on behalf of the firm shall be ..... of the appellant/plaintiff and in which shri s. surinder jit singh has categorically stated that he had taken the loan for the requirements of the partnership firm and was returning the same by issuing the cheques on behalf of the firm only. the counsel for appellant/plaintiff has contended that the respondents ..... plaintiff could recover the same from shri s. surinder jit singh/ his heirs only and not from the respondent/defendant no.1 jaswinder singh and/or the partnership firm. the learned adj also held that interest claimed by the appellant/plaintiff at 2% per month was exorbitant and allowed the appellant/plaintiff interest @ 9 ..... executed in the firm name, or in any other manner showing expressly or impliedly an intention to bind the firm. 16. though the writing dated 25th may, 1994 is on the letterhead of the partnership .....Tag this Judgment!
Court : Chennai
..... " (ii) (1979) 120 itr 0049 (malabar fisheries v. commissioner of income tax) "13............... it seems to us clear that a partnership firm under the indian partnership act, 1932 is not a distinct legal entity apart from the partners constituting it and equally in law the firm as such has no separate rights of ..... its own in the partnership assets and when one talks of the firm's property. or firm's assets all that ..... with all relevant requirements and registered as such, there was a statutory vesting under section 575 of all assets of erstwhile partnership company into private limited company registered under act, meaning thereby that no transfer was involved. it was held, there being, neither transferor nor transferee, whose presence alone would ..... b) whether the income tax appellate tribunal is right in law in finding that section 45(4) of the act is attracted in case where the taking over of the partnership firm as a whole as a going concern by a private limited company amounts to transfer of capital assets even ..... that case are identical with those in the present case. there also an existing firm was transformed into a company under part ix of the indian companies act. when dealing with the identical situation, wherein the assessing officer proposed to levy capital gains tax, the bomaby high court held: in this .....Tag this Judgment!
Court : Kerala
..... payment or for other valuable consideration, provided that the proceeds of the sale by a person not being a company or firm registered under the companies act, 1956 (central act 1 fo 1956) and indian partnership act, 1932 (central act 9 of 1932) [or society including a co-operative society or association of individuals whether incorporated or not] of agricultural or horticultural produce grown ..... subsidy payments received by the petitioners while subjecting them to tax on their sales turnover of fertilizers. the definitions of the terms sale , sale price and turnover under the kvat act read as follows: 2. definitions:- (xliii) sale with all its grammatical variations and cognate expressions means any transfer whether in pursuance of a contract or not of the ..... fund account, constituted and administered by the central government, which was in the nature of a subsidy paid to the petitioners, that was brought to tax under the kgst act as part of their taxable turnover of the fertilisers. 9. subsidy is a well-known term in the field of administration and economics. chambers' twentieth century dictionary defines subsidy ..... loss allowed is on fixed basis while this value can vary depending on the import cost of fertilizers. 3. while completing the assessments of the petitioners, under the kvat act, for the relevant assessment years, the assessing authorities included the subsidy amounts received by them in their taxable turnover, by relying on the provisions of explanation vii to section .....Tag this Judgment!