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Judgment Search Results Home > Cases Phrase: indian partnership act Year: 1960 Page 6 of about 129 results (0.054 seconds)

Aug 24 1960 (HC)

Satya Narayan Khan Vs. Income-tax Officer, Calcutta, and Others.

Court : Kolkata

Decided on : Aug-24-1960

Reported in : [1962]46ITR920(Cal)

..... admission of satya narayan must be taken as a whole and it that is done, then it would be clear that after the discontinuance of the partnership business satya narayan started a new business on his own account and that business had no relation to the old business of the unregistered firm. ..... a separate and independent business unconnected with the previous business of the unregistered firm and so he should not be regarded as a successor to the partnership firm.in the above connection we may refer to an order passed by income-tax officer on 28th march, 1952, in connection with the assessment ..... narayan khan kali charan sadhukhan bepin behary tat', which carried on business in various kinds of oil, in premises no. 49, strand road, calcutta. the partnership firm was dissolved in baishak 1354 b.s., corresponding to sometime in april, 1947. after the dissolution of the firm the income-tax officer made an ..... assessment on the firm for the income-tax year 1946-47 under section 23(4) of the indian income-tax act. this assessment was completed, on 28th february, 1951, and a sum of rs. 31,000 was assessed as being payable by the firm. ..... gupta in negatived by several salient facts. the plaintiff-appellant had himself been a partner of the old business. that partnership was dissolved in april, 1947, corresponding to baisakh 1354 b.s. the partnership firm carried on business in various kinds of oil in premises no. 49, strand road, calcutta. according to his .....

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Jul 18 1960 (HC)

C.P. Krishna Iyer Vs. District Collector, Trichur and ors.

Court : Kerala

Decided on : Jul-18-1960

Reported in : AIR1961Ker315

..... assessment order on 23-12-1954 under section 23(3) of the income-tax act, 1922 determining the total income of the partnership firm at rs. 3,86,669/- the petitioner's share of the income being rs; 1,93,334/-. on appeal by the ..... the supreme court in t. k. musaliar v. venkitachalam, (s) air 1956 sc 246. that was a case where a petition was filed against the indian income-tax investigation commission having its office in new delhi and the official authorised by the commission to work in travancore under section 6 of the travancore taxation ..... -1957 informing him that 'according to the present policy of the government of india, indian citizens are not allowed to go to goa.' the said order is marked as ext. p9. on account of the above prohibitions and restrictions all the petitioner ..... request. true copies of the said letter and reply are marked ex. p8 series.the government of india have also imposed restrictions and prohibitions regarding travel of indian citizens to goa. on applying to the government of bombay state, for travel facilities to goa, the petitioner got a reply from them on 19-1 ..... the business in goa and had to leave large assets and amounts belonging to the business at goa without being able to take them over to the indian territories,2. for the assessment year 1950-51 corresponding to the account year ending on the 31st march 1950 the income-tax officer, bombay passed an .....

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Jan 19 1960 (HC)

Indian Woollen Textile Mills Vs. Commissioner of Excess Profits Tax, P ...

Court : Punjab and Haryana

Decided on : Jan-19-1960

Reported in : AIR1960P& H582; [1960]39ITR289(P& H)

..... income-tax authorities, they took the view that such a partnership consisting of a karta and a junior member of the family was invalid and assessment was ..... by time.again, the appellate tribunal did not agree and held that because of the amendment of s. 15 of the excess profits tax act by act 22 of 1947 the limitation of five years had ceased to operate even in respect of the two years in dispute, that is, 1939-40 ..... its intention more clearly, the intention being that this particular amendment was to have retrospective effect as from the date of the excess profits tax act itself. mr. mittra referred to certain decided cases, but admittedly none of those was concerned with the interpretation of such language as has been ..... were therefore valid. the assessee's appeals were accordingly disposed of. the assessee thereupon made four applications under s. 21 of the excess profits tax act for referring certain questions of law arising in connection with these four assessments to the high court, that is, the assessments relating to the chargeable ..... textile mills, chheharta, claimed to be a partnership firm, consisting of lachhman das, karta of hindu undivided family, and his son daulat ram, a member of the same family, in his individual capacity. when the question of assessment under the indian income-tax act of the year 1938-39 came up before the .....

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Dec 15 1960 (HC)

H. Ahmed and Co. Vs. Kohinoor Glass Factory Ltd., Hyderabad

Court : Andhra Pradesh

Decided on : Dec-15-1960

Reported in : AIR1961AP476

..... v. indo carnatic bank, air 1958 andh pra 407 that decree passed by the madras high court prior to the inauguration of the constitution and the application of the indian civil procedure code by act ii of 1951 could not be executed. but having regard to the importance of the point involved, the question was referred to a full bench. before us, however, ..... that the appellant, decree-holder, h. ahmed and company is a registered partnership firm carrying on business in bombay. the respondent, the kohinoor glass factory ltd., is also a company registered under the hyderabad companies act having its head office in hyderabad. this company after the application of the indian companies act in 1956 is deemed to be a company registered under the ..... bench is, whether the decree sought to be executed by the appellant is a foreign decree and whether, after the inauguration of the constitution and the application of the indian civil procedure code to the hyderabad state, it could be executed. the executing court notwithstanding the fact that there were reported judgments of the hyderabad high court holding, that such decrees ..... indian companies act. the plaintiff in his plaint averred that there is a glass factory in bombay under the name .....

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Mar 04 1960 (HC)

Commissioner of Income-tax, Hyderabad Vs. J. Govinda Rao and Sons.

Court : Andhra Pradesh

Decided on : Mar-04-1960

Reported in : [1961]41ITR186(AP)

..... rule is in these words :'any firm constituted under an instrument of partnership specifying the individual shares of the partners may, under the provisions of section 26a of the indian income-tax act, 1922 (hereinafter in these rules referred to as the act), register with the income-tax officer, the particulars contained in the ..... district, were originally assessed for the assessment year 1945-46 on a turnover of rs. 24,668 under section 23 (3) of the indian income-tax act. in the course of investigation in regard to the assessment for the years 1946-47 and 1947-48, it came to the knowledge of ..... to the firm for the year 1946-47 and the appellate assistant commissioner to receive the application filed under rule 2 (c) of the indian income-tax rules for the year 1947-48 and dispose of it according to law.'in compliance with the direction of this court, the tribunal ..... (not being minors) personally and shall be made -(c) with the permission of the appellate assistant commissioner hearing an appeal under section 36 of the act, before the assessment is confirmed, reduced, enhanced or annulled.'it is immediately clear from this rule that clause (c) envisages only the condonation of ..... matter, namely, whether the income-tax officer has exercised his jurisdiction judiciously or not. on the other hand, the tribunal thought that the officer acted illegally in either canceling the registration for the previous year or refusing to renew it for the subsequent year, when the genuineness of the firm .....

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Feb 17 1960 (SC)

The Commissioner of Income-tax, Bombay Vs. Chandulal Keshavlal and Co. ...

Court : Supreme Court of India

Decided on : Feb-17-1960

Reported in : AIR1960SC738; (1960)62BOMLR567; [1960]30CompCas261(SC); [1960]38ITR601(SC); (1960)IIMLJ101(SC); [1960]3SCR38

..... arises out of a reference by the income-tax appellate tribunal under section 66(1) of the indian income-tax act (hereinafter termed the act). the appellant in this appeal is the commissioner of income-tax and the respondent is a partnership firm which, by an agreement dated september 23, 1935, was appointed the managing agent of the ..... the absence of a suggestion of a fraud this is not relevant at all for giving effect to the provisions of section 12(2) of the income-tax act. most commercial transactions are entered into for the mutual benefit of both sides, or at any rate each side hopes to gain something for itself. the test ..... 5%. the income-tax appellate tribunal and the high court held that the interest on debentures was not an allowable expenditure under s. 12(2) of the act. this court, on appeal, was of the opinion that the transaction was of a commercial nature from the point of view of the assessee company and ..... the bonus which the managed company paid to some of its officers and claimed it as a deductible expenditure under s. 10(2)(xv) of the act. this deduction was allowed on the ground that the object of the payment from the point of view of commercial principles was to increase the profits of ..... or a part thereof is foregone in the interest of the managed company, it would be allowed as an expenditure under section 10(2)(xv) of the act. we allow the amount foregone under section 10(2)(xv).' 2. against this order, at the instance of the appellant, a case was stated to the .....

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Nov 07 1960 (SC)

Bhaichand Amoluk and Co. Vs. Commissioner of Income-tax, Bombay City I ...

Court : Supreme Court of India

Decided on : Nov-07-1960

Reported in : [1962]44ITR511(SC)

..... family, and devised a scheme to transfer the business to a sham partnership consisting of his mother, an employee and an agent of the firm, with the benefits of the partnership to his two minor sons, that the new indian assurance company lent its support to a practice by which insurance business was ..... were no materials on which the finding that the firm seeking registration was a pretense, could be rested, and (b) in any event, the tribunal having acted on suspicions, conjecture and surmises, its decision is erroneous, in view of the decisions of this court reported in dhirajlal girdharilal v. commissioner of income-tax ..... -of-attorney which was not withdrawn, that no new letter of appointment was issued by the three insurance companies for whom the old firm was acting as principal agents, and that no written communication was given to them. in disposing of the matter, the tribunal stated that chhotalal probably wished ..... the year of account, calendar year 1953, an application for the registration of this new firm was made under section 26a of the income-tax act. the income-tax officer by his order dated september 30, 1954, declined registration, holding that the firm belonged solely to chhotalal bhaichand had not made ..... insurer and a principal agent were also required to be in writing, and the model terms contained in part i of the sixth schedule to the act were to be deemed to be incorporated in and form part of every such contract. 3. the case of the firm is that chhotalal bhaichand .....

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Sep 26 1960 (HC)

K.P. Brothers Vs. Commissioner of Income-tax

Court : Rajasthan

Decided on : Sep-26-1960

Reported in : AIR1962Raj152

..... 1954-55, the previous year being the period ranging from, 10-10-1952 to 26-10-1953 (both inclusive). the assessee is a partnership firm registered under section 26a of the indian income-tax act consisting of 4 partners, one of them being shri kishan chand son of maya ram, opposite party no. 2. he had an ..... a further sum of rs. 40,000/-/- to that of his mother jasodhabai as cash gifts. mayaram, chella ram, and shrimati jasodhabai had accounts with the partnership firm and the sum of rs. 60,000/-/- and rs. 40,000/-/-were credited to their respective accounts accordingly and a sum of one lakh was debited ..... was not entitled to claim a deduction of the interest credited in the books to the trust account from his income under section 10 of the indian income-tax act.6. in the cases discussed above the donees made entries in their own books of account in pursuance of their intentions to make gifts of their ..... rs. 1,108/-/- credited to the accounts' of donees by the assesses firm could not be regarded as allowable deductions under section 10 (2) (iii) of the indian income-tax act. the tribunal relied on the following decisions in coming to this conclusion :(1) chamber v. chamber air 1941 mad 154; (2) r. m. v. muthappa chettiar ..... ranawat, j.1. this is a reference by the income-tax appellate tribunal (delhi branch) under section 66(1) of the indian income-tax act. the following questions have been referred :1. whether on the facts and in the circumstances of this case, the debit entry of rs. 1 .....

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Sep 26 1960 (HC)

K. P. Brothers Vs. Commissioner of Income-tax, New Delhi.

Court : Rajasthan

Decided on : Sep-26-1960

Reported in : [1961]42ITR650(Raj)

..... being the period ranging from october 10, 1952, to october 26, 1953 (both inclusive). the assessee is a partnership firm registered under section 26a of the indian income-tax consisting of 4 partners, one of them being shri kishan chand, son of maya ram, opposite party no. 2. he had ..... not entitled to claim a deduction of the interest credited in the books to the trust account from his income under section 10 of the indian income-tax act.in the cases discussed above, the donees made entries in their own books of account in pursuance of their intentions to make gifts of ..... . the delivery according to section 123 may be made in the same way as goods sold may be delivered.section 33 of the sale of goods act, 1930, which provides for delivery of goods sold, is as follows :'delivery of goods sold may be made by doing anything which the parties agree ..... 1,108 credited to the accounts of the donees by the assessee firm could not be regarded as allowable deductions under section 10(2)(iii) of the indian income-tax act. the tribunal relied on the following decisions in coming to this conclusion : chambers v. chambers; muthappa chettiar v. commissioner of income-tax; hanmantram ramnath ..... is entitled to claim a deduction of the interest credited in the two accounts under the provisions of section 10(2)(iii) of the income-tax act ?the tribunal has stated the facts and circumstances of this case as noted below.the assessment year under consideration is 1954-55, the previous year .....

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Feb 09 1960 (HC)

Sheik Abdul Sattar Vs. District Collector, Masulipatam, and Another.

Court : Andhra Pradesh

Decided on : Feb-09-1960

Reported in : [1960]40ITR27(AP)

..... petitioner contended before the income-tax officer that after the death of sattar saheb, by a deed of partnership dated november 21, 1949, a partnership firm was constituted and that the firm ought to have been registered under section 26a of the indian income-tax act. the income-tax officer rejected the claim for registration and made an assessment against the petitioner and other ..... the income-tax authorities did not know that the late abdul sattar saheb had left other legal representatives, by reasons of the filing of the partnership deed for the purposes of registration under section 26a of the act for the year 1950-51. whether the income-tax authorities knew that there were other legal representatives besides the petitioner or not, seems to ..... v. first additional income-tax officer, karaikudi ([1958] 33 i.t.r. 466.) where the learned judges held that the legal fiction created under section 24b(2) of the indian income-tax act of treating a legal representative as the assessee is only for the limited purpose of the assessment and does not extend to the recovery or collection of tax, and ..... -44, 1944-45 respectively and the assessment was actually made on 30th march, 1946.both these cases are with respect to the assessments that were made prior to the indian income-tax (amendment) act, 1953. and, therefore, there is no substance in the contention of the learned counsel that the amended definition cannot be used for the purpose of determining whether a .....

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