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Judgment Search Results Home > Cases Phrase: indian partnership act Sorted by: recent Year: 1970 Page 1 of about 131 results (0.068 seconds)

Dec 21 1970 (HC)

Commissioner of Income-tax Vs. Hans Raj and ors.

Court : Punjab and Haryana

Decided on : Dec-21-1970

Reported in : [1972]85ITR422(P& H)

..... import the definition of the word 'person' occurring in section 3(42) of the general clauses act, 1897, into section 4 of the indian partnership act will, according tolawyers, english or indian, be totally repugnant to the subject of partnership law as they know and understand it to be. it is in this view of the matter ..... that it has been consistently held in this country that a firm as such is not entitled to enter into partnership with ..... vocation on which tax was at any time charged under the provisions of the indian income-tax act, 1918, ?s 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 the ..... ; (b) to a business, profession or vocation on which income-tax was at any time charged in the hands of a company under the indian income-tax act, 1886 (ii of 1886), or on which income-tax would have been charged in the hands of a company for the assessment year ending on ..... , are as under :'25. (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 (vii of 1918), is discontinued, then, unless there has been a succession by virtue of which the provisions of sub-section (4) have .....

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Nov 13 1970 (HC)

Delight Stores Vs. Income-tax Officer, E-ward and ors.

Court : Allahabad

Decided on : Nov-13-1970

Reported in : [1971]79ITR749(All)

..... which their business is carried on is called the 'firm name'.' 10. it is true that the expression 'firm name' has been defined in section 4 of the indian partnership act. but it does not follow that firm name is an essential ingredient of the constitution of a firm. it is possible for a firm to carry on business without ..... (23) of section 2 of the income-tax act, 1961, the expressions 'firm', 'partner' and 'partnership' have the same meaning as in the indian partnership act. we have, therefore, to turn to the definition of these terms in the indian partnership act.9. these terms have been defined in section 4 of the indian partnership act. section 4 states:''partnership' is the relation between persons who have agreed to ..... share the profits of a business carried on by all or any of them acting for all. persons ..... who have entered into partnership with one another are called individually ' .....

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Oct 20 1970 (HC)

Commissioner of Income-tax Vs. Ferozepur Ice Manufacturers' Associatio ...

Court : Punjab and Haryana

Decided on : Oct-20-1970

Reported in : [1972]84ITR607(P& H)

..... determination of the question of law referred to us, the only point that needs consideration is whether the association formed by the ice manufacturers is a ' partnership' within the meaning of section 4 of the indian partnership act or a mutual association brought about to safeguard their interests and it did not carry on any trade or business activity and thus earn any income ..... the association formed by the ice manufacturers in the present case was not a partnership concern, as it was not carrying on any business activity within the meaning of section 4 of the indian partnership act, and as such it was not liable to be taxed under the indian income-tax act, 1922. the answer to the question referred to us is, therefore, in the affirmative ..... , profits and gains as alleged by the assessee. ' partnership' has been defined in section 4 of the partnership act, which says:' partnership is the relation between persons who have agreed ..... getting interested in other concerns for the manufacture and sale of ice : held, that, on the facts, the test of partnership was fully satisfied in this case and the partnership was entitled to be registered under section 26a of the indian income-tax act, 1922. ' 18. it is clear from the head-note itself reproduced above that in that case the firm was itself .....

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Oct 07 1970 (HC)

Smt. Vraj Kuwar Bai and ors. Vs. Kunjbiharilal Krishnachandra and ors.

Court : Madhya Pradesh

Decided on : Oct-07-1970

Reported in : AIR1971MP109; 1971MPLJ44

..... and to an account.'9. the law in india on this subject is exactly the same and has been borrowed from the english law. sections 14 and 15 of the indian partnership act restrict the rights of the partners which they would normally have as joint owners. section 14 lays down what property is to be deemed to be ..... the adjudication of a person as insolvent his property shall vest in the court or the receiver. on dissolution of a partnership, section 46 of the partnership act gives the power of winding up of the affairs of the firm to the partners. section 47 goes on to provide that even after dissolution the power of the partners ..... is a proviso to section 47 which is as follows:--'provided that the firm is in no case bound by the, acts of a partner who has been adjudicated insolvent;.....'10. we are, therefore, of opinion that the position of partnership property is so different from other property which is in co-ownership of three persons that the principles of co-ownership ..... his personal benefit under section 16 if any partner derives any personal benefit from the partnership property, he has to account for it and pay it to the firm. the definition of 'property' in the provincial insolvency act is given in section 2(1)(d) of the act and is as follows:--' 'property' includes any property over which or the profits of which .....

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Oct 05 1970 (HC)

Velo Industries Vs. Collector, Bhavnagar

Court : Gujarat

Decided on : Oct-05-1970

Reported in : [1971]80ITR291(Guj)

..... in payment of the debts and liabilities of the firm, and to have the surplus distributed among the partners or their representatives according to their rights. section 48 of the partnership act provides for the mode of settlement of accounts between the partners. the distribution of surplus is for the purpose of adjustment of the rights of the partners in the assets ..... second proviso to section 10(2)(vii). shah j., speaking on behalf of the supreme court, stated the law on the subject in these terms : 'under section 46 of the partnership act, 1932, on the dissolution of the firm every partner or his representative is entitled, as against all the other partners or their representatives, to have the property of the firm ..... passes to his trustee.' 5. the supreme court had also occasion to consider this question in narayanappa v. bhaskara krishnappa, and there, after referring to the relevant provisions of the partnership act, the supreme court proceeded to state the effect of these sections in the following words : 'from a perusal of these provisions, it would be abundantly clear that whatever may be ..... the assets at the original value amounted to total recoupment of the entire depreciation by the partnership and on that account the second proviso to section 10 (2) (vii) of the indian income-tax act, 1922, was attracted, the supreme court held that on the dissolution of the partnership, each theatre had to be deemed to be returned to the original owner in satisfaction .....

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Sep 04 1970 (HC)

New India Colour Co., Delhi Vs. the Commissioner of Income-tax, New De ...

Court : Delhi

Decided on : Sep-04-1970

Reported in : AIR1971Delhi138; [1971]80ITR206(Delhi)

..... partner in the trading assets of a partnership with reference to the provisions of the indian partnership act, 1932. their lordships observed as follows:-'it seems to us that looking to the scheme of the indian act no other view can reasonably be taken. the whole concept of partnership is to embark upon a joint venture ..... any exclusive right over the property which he had brought in as trading assets of the partnership for making gifts of specified amounts.10. the view taken by the appellate tribunal, in our opinion, was correct. the gifts made by kartar ..... of the case as well the account has not been referred to as a composite or mixed account but as capital account. the incidents of partnership as applicable to trading assets or capital account have, thereforee, to be applied. as a partner kartar singh was not free to claim or exercise ..... was a permissible deduction?2. messrs. new india colour co., delhi a partnership firm registered under section 26-a of the income-tax act, is the assessed in the case. the assessment years under reference are 1957-58 and 1958-59; the relevant previous ..... been referred by the income-tax appellant tribunal (delhi bench 'b') under provisions of section 66 (1) of the indian income-tax act, 1922 (hereinafter referred to as 'the income-tax act').'whether on the facts and in the circumstances of the case, the interest credited to the amounts of the four donees .....

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Aug 10 1970 (HC)

Shyam Lal Paharia and Anr. Vs. Gaya Prasad Gupta 'Rasal'

Court : Allahabad

Decided on : Aug-10-1970

Reported in : AIR1971All192

..... 14. in s. k. dutt v. law book co : air1954all570 the plaintiff had alleged that that the copyright in his work 'indian partnership act, by mukerji and dutt' had been infringed by the second defendant in his publication entitled 'law book company's commentaries of law and practice of ..... partnership and private companies in india'. it was observed that in order to construe infringement of a man's copyright there must be sufficient ..... infringement of the work. 'fair dealing by any one has been kept out of the mischief of the copyright act'. it was further observed:--'several persons may originate similar works in the same general form without anyone infringing the law in regard to copyright. the ..... of the definition of the word literary work' in section 35 of the copyright act of 1911 adopted by the indian copyright act, 1914 the calculation charts could be treated as literary work within the meaning of section 35 of the act of 1911; (2) the plaintiff's copyright had not been infringed by the ..... suit was filed in 1954 when the indian copyright act, 1914 was in force. the relevant provisions of the aforesaid act are as follows:--section 2. in this act, unless there is anything repugnant in the subject or context. - (1) 'the copyright act' means the act of parliament entitled the copyright act, 1911; and (2) words and .....

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Aug 06 1970 (HC)

Ganesh Chandra Dey and anr. Vs. Kamal Kumar Agarwalla

Court : Kolkata

Decided on : Aug-06-1970

Reported in : AIR1971Cal317

..... that the court alone has jurisdiction to dissolve a partnership under the said sub-sections. it is quite possible that the parties may agree to have the question of dissolution of ..... respondent has served a noticeof the dissolution of the partnership. further the suit as framed has been instituted not only on the basis of the notice of dissolution of the partnership but also on the grounds that it is just and equitable to dissolve the partnership under section 44(f) and (g) of the indian partnership act it appears from the words in the said language ..... partnership under section 44(f) and fg) also decided by arbitration. but in the present ..... an application under section 34 of the indian arbitration act, 1940 for stay of a suit filed by the respondent kamal kumar agarwal. the petitioners, ganesh chandra dey and ghanashyam das and the respondent are the partners of a firm known as 'esbi cycle industries' at no. 7, ganesh chandra avenue. calcutta, under a deed of partnership dated november 2g, 1963. it provides .....

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Aug 04 1970 (SC)

Joharmal Murlidhar and Co. Vs. Agricultural Income-tax Officer, Assam ...

Court : Supreme Court of India

Decided on : Aug-04-1970

Reported in : AIR1970SC1980; [1971]79ITR6(SC); (1970)3SCC331

k.s. hegde, j.1. these appeals by certificate raise common question of law. 2. the appellant is a partnership firm registered under the indian partnership act, 1932. it consists of two partners. the partnership owns two estates namely (1) chowkhani tea seed estate and (2) mahadeobari tea estate. the dispute in this case is as to the extent of the liability of the appellant ..... to pay the agricultural income-tax under the assam agricultural income-tax act, for the assessment years 1954-55, 1955-56 ..... which the agricultural income-tax payable by the assessee had to be determined. hence the assessing officer assessed the appellant under section 20(4) of the assam agricultural income-tax act. in other words he assessed the assessee on the basis of best judgment. the assessee challenged the assessments in question by means of petitions under article 226 of the constitution ..... court refused to accept the contention of the assessee that the impugned assessments were made arbitrarily on the ground that the assessee had failed to take proper steps under the act by appealing against the impugned order. that is undoubtedly a good ground for refusing to give the relief to the assessee but all the same, taking into consideration, the amounts .....

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Jul 03 1970 (HC)

Mahabir Prasad Jatia and ors. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jul-03-1970

Reported in : [1972]84ITR143(Cal)

..... it is not necessary for me to decide those questions. it is claimed in the petition that a partnership firm styled, onkarmull kanailall & co., was incorporated some time in the year 1943 and registered under the indian partnership act and at the material time the partners of the said firm were, (1) kanailall jatia, (2 ..... assessment year 1959-60, relevant to the accounting period 23rd october, 1957, to the 10th november, 1958, a return was filed on behalf of the partnership firm, onkarmull kanailall & co., by ghanshyamdass jatia as a partner on or about the 27th october, 1959, showing the total income of the firm for ..... statement in the original return, i.e., some mistakes or something left out by inadvertence as contemplated in section 22(3) of the 1922 act. the returns filed on the basisof the death of kanailall for the two periods before and after such death could not be called revised returns. ..... were voluntary returns filed on behalf of the hindu undivided family.5. dr. pal submitted, firstly, that as section 22(3) of the 1922 act permits an assessee to file a revised return at any time before the assessment is made the petitioners were entitled to file such revised returns on ..... undivided family; (b) that as the original return was filed under the indian income-tax act, 1922, the proceedings for assessment should have been completed under that act and the purported penalty proceedings under sections 271 and 273 of the 1961 act were illegal and ultra vires. (c) that the assessee had a .....

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