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Judgment Search Results Home > Cases Phrase: indian partnership act Year: 1970 Page 11 of about 131 results (0.067 seconds)

Sep 11 1970 (HC)

R.B. Jessa Ram Fateh Chand Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Sep-11-1970

Reported in : [1971]81ITR409(All)

..... is 1959-60. the relevant accounting period was from october 24, 1957, to november 11, 1958. the assessee-firm was constituted under a deed of partnership executed in the year 1954. during the relevant accounting year one of the partners, thakurdas, died on or about august 1, 1958. the assessee filed ..... facts and in the circumstances of the case, change occurred in the constitution of the firm within the meaning of section 26(1) of the indian income-tax act, 1922, and assessment should have been made on the firm as constituted at the time of making the assessment. the question is answered in ..... supreme court had occasion to discuss the true scope of the two sub-sections of section 26 of the act. their lordships observed on pages 827 and 828 thus :'under the ordinary law governing partnerships, modification in the constitution of the firm in the absence of a special agreement to the contrary amounts to ..... 26(1) of the act was not applicable. facts of that case were peculiar. after the dissolution of the partnership on december 31, 1947, business was carried on by the sole proprietor, b, for some time. facts ..... when the entire business was transferred to b. thereafter b carried it on as sole proprietor. subsequently, b entered into a partnership with his brother, c, it being agreed that the partnership would be deemed to have come into existence on the 1st of january, 1948. it was held by this court that section .....

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Apr 28 1970 (SC)

Commissioner of Income-tax Uttar Pradesh, and anr. Vs. J.P. Kanodia an ...

Court : Supreme Court of India

Decided on : Apr-28-1970

Reported in : AIR1970SC1588; [1970]77ITR515(SC); 1970MhLJ35(SC); (1970)2SCC7a; [1971]1SCR418

..... of the income-tax officer directing that the income of the partners and the shares allocated to the minors admitted to the benefit of the partnership shall be assessed in the hands of the respective hindu undivided families was plainly without jurisdiction.7. on the second contention not much need be ..... a partner is beneficially held by some other person or entity. the income-tax officer must allocate the profits in accordance with the deed of partnership registered by him and to the persons admitted to the benefits thereof according to their respective shares. he cannot at that stage hold an ..... -tax officer was of the opinion that since the capital contributed by the partners and the minors who were admitted to the benefits of the partnership was out of the capital of the respective hindu undivided families to which they belonged, the profits allocated to the partners and to the minors ..... prawd's case that in the computation of the income, profits and gains of the year of assessment under section 10(1) of the indian income-tax act, the assessee is not entitled to set off speculative losses against profits from other business activities of the same year.8. the appeal is ..... p. kanodia and company is a firm registered under the indian income-tax act, 1922. the partners of the firm were smt. shanti devi and badri prasad. three minors--pradeep kumar, anand prakash and rajendra prasad were admitted to the benefits of the partnership.2. in proceedings for assessment of tax for the assessment .....

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Nov 10 1970 (HC)

Mahadeo Prasad Rais Vs. Income-tax Officer

Court : Allahabad

Decided on : Nov-10-1970

Reported in : [1972]84ITR48(All)

..... years corresponding to the three assessment years.3. the assessee's case was not accepted by the income-tax officer. he held that formation of the partnership firm on july 7, 1948, was a sham transaction. it was further held that the assets in question continued as assets of the joint hindu family. assessment for the three ..... in the books of the family. several items were outside the books. items in the books of the assessee were divided on june 30, 1948. on july 7, 1948, a partnership firm took over the assets, which had been divided on june 30, 1948. the assets outside the books were also divided on october 30, 1948, and were invested in the ..... partnership firm. the result is that the entire business of the family was taken over by the new firm. according to the assessee, it had no income during the three previous ..... oak, c.j.1. this is a reference under section 66 of the indian income-tax act, 1922. the assessee is a hindu undivided family consisting of six members. mahadeo prasad is the karta of the family. other members of the family are mahadeo prasad's major .....

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Mar 02 1970 (HC)

Ram Das Jaiswal Vs. Income-tax Officer

Court : Allahabad

Decided on : Mar-02-1970

Reported in : [1971]79ITR570(All)

..... fell to be assessed as the income of the united motor transport service association, treated as an unregistered partnership firm, issued a notice under section 34 of the indian income-tax act, 1922, in respect of the several assessment years and made consequent assessments upon the partnership firm. the petitioner was treated as a partner of the firm, and on that basis recovery proceedings ..... time allowed by it, the partner himself can be treated as being in default. the law is now clear that if a notice of demand has been served upon a partnership firm, it is not necessary that a further notice should be served upon the partner of the firm in order to render that partner liable for payment of tax : see ..... in the rejoinder-affidavit filed by him to the counter-affidavit. if baij nath is treated as an employee of the firm, the position appears to be that the firm acted upon the notice under section 34, served upon him, by filing returns of its income. it also treated the assessment orders and notices of demand served upon baij nath as .....

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Mar 09 1970 (HC)

The Commissioner of Income-tax, M.P., Nagpur and Bhandara, Nagpur Vs. ...

Court : Madhya Pradesh

Decided on : Mar-09-1970

Reported in : AIR1971MP30; 1970MPLJ583

..... from some other undisclosed sources, the inference of the tribunal that the said amount of rs. 38000/- could be explained by the additional income assessed in prior years of the partnership firm vrajlal manilal and company which were outside the books of accounts of the firm and out of those profits the assessee's share would come to more than rs ..... /- could be the cash balance with him out of those amounts which represented his share of earned profits in the partnership business and to which he was assessed by the tribunal beyond the amounts included in the books of accounts of the partnership. it is further urged that as there was no suggestion in the proceedings before the income-tax authorities that ..... and there was no error of law in its approach and hence its order did not raise any question of law.6. the application under section 66 (2) of the act made by the commissioner of income-tax is, therefore, dismissed. in the circumstances of the case, we do not make any order as to costs. ..... bhargava, j.1. this application under section 66(2) of the indian income-tax act, 1922 (hereinafter called the act) is filed by the commissioner of income-tax, madhya pradesh, for a direction requiring the income-tax appellate tribunal, bombay, to state the case of the assessee shri chintamanraobalaji, sagar, .....

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Jul 09 1970 (HC)

Commissioner of Income-tax Vs. Textile Machinery Corporation

Court : Kolkata

Decided on : Jul-09-1970

Reported in : [1971]80ITR428(Cal)

..... provision it follows that this licencedoes not cover the jute mill division of the assessee which is also claimingfor exemption under section 15c of the indian income-tax act, 1922. thisindustrial licence, therefore, is only confined to the steel foundry divisionof the assessee. 47. the statutory complex operating on this point ..... however, concerned with, is not reconstruction of a 'company' but recon-struction of a 'business' under section 15c(2)(i) of the indian income-tax act, 1922. reconstruction of a company with its limited concept is not the same thing as reconstruction of a business. if mr. justice buckley was ..... substance and in form one of out and out sale and the only relation that remained between the partnership and the assessee-company was that the members of the partnership became shareholders in part in the assessee-company and this was held to be not a reconstruction of an ..... industry carried on in one or, more factories by any person or authority including government.'19. the words 'industrial undertaking' in the indian income-tax act, 1922, should, in our view, be interpreted to mean any venture or enterprise which a person undertakes to do and which has ..... existing business and on that ground a division bench of the bombay high court came to the conclusion that th& assessee-company there was entitled to relief under section 15c of the income-tax act .....

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Mar 13 1970 (HC)

Radheshyam Ladia Vs. Income-tax Officer, b Ward and ors.

Court : Kolkata

Decided on : Mar-13-1970

Reported in : [1971]82ITR247(Cal)

..... of which the assessee was a partner while his minor child had also been admitted to the benefits of that partnership. in accordance with the provisions of section 22(5) of the 1922 act the names of the partners of the firm including the assessee's wife and minor child were shown in part ..... business in which such individual is a partner; (ii) to a minor child of such individual from the admission of the minor to the benefits of partnership in a firm in which such individual is a partner; (iii) to the spouse of such individual from assets transferred directly or indirectly to the spouse ..... for which he is assessable. the other contention of mr. mitter is that the return should contain all the parliculars prescribed and in the form prescribed under the indian income tax rules, 1962. form no. 3, which is the form of a return for an individual, contains, inter alia, a note to the following ..... required the disclosure of income of any person other than the income of the assessee, which was liable to be included in his total income. the act and the rules accordingly imposed no obligation upon the assessee to disclose to the income-tax officer in his return information relating to income of any ..... 'c' ward, special survey circle-iv, calcutta. his assessments for the years 1961-62 and 1962-63 were made under section 143(3) of the 1961 act on 10th and 11th june, 1963, respectively, and it appears from the assessment orders for these two years that certain interest received by the assessee's wife .....

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Sep 29 1970 (HC)

Mahua Vs. Union of India (Uoi) and anr.

Court : Kolkata

Decided on : Sep-29-1970

Reported in : AIR1971Cal507

..... of evidence specified in sch. iii.'11. therefore, it is for the authority as contemplated in sub-section (2) of section 9 of the citizenship act to determine the question as to whether the applicant is an indian national. this court has no power to so decide : air1958all165 . in the instant case the order of expulsion was passed against the applicant on ..... of passport is not conclusive evidence of acquisition of citizenship. in the instant case all the aforesaid documents including the application made by the applicant for being registered as an indian citizen go to show that the applicant chose voluntarily to change his citizenship and acquired the chinese citizenship and became a chinese national. the aforesaid documents have been sought to ..... registration as a foreigner of chinese nationality. the petitioner was so registered as a foreigner of chinese nationality on 1-2-1968. the petitioner also applied for registration as an indian citizen to the government of india. the said application was rejected by the government of india.7. it is contended by mr. dutt that notwithstanding rejection of the said application ..... terminated. in any event the petitioner continued to be indian citizen. the petitioner's father settled down at hasimara in north bengal in the district of jalpaiguri and started business under the name and style of macha brothers. in or about 1953 the said business of his father was converted into a partnership. the father and his four sons including the petitioner .....

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Jun 03 1970 (HC)

Omprakash Agarwalla Vs. Agricultural Income-tax Officer and ors.

Court : Kolkata

Decided on : Jun-03-1970

Reported in : [1972]84ITR340(Cal)

..... on an assessee deriving income from growing and manufacturing tea without the assessment of such assessee being completed under the indian income-tax act have been raised in this application. it appears that the bagdogra tea estate was owned and managed by a partnership firm of which maidhandus agarwalla and certain other persons were the partners. it is alleged in the petition that ..... derived from operations partly agricultural and partly non-agricultural. section 8(1) enacts that in the case of such mixed income which is chargeable partly under this act and partly under the indian income-tax act, the agricultural income-tax officer shall determine the agricultural income on certain basis as laid down in that sub-section. sub-section (2) of that section deals ..... assessee growing and manufacturing tea and no assessment to agricultural income-tax can be made until and unless the assessment for the corresponding year has been completed under the indian income-tax act.2. in the affidavit-in-opposition it is not denied that the notice under section 24(4) did require the petitioner and/or his predecessor-in-interest to produce ..... estate calling upon it to produce, inter alia, its books of accounts and other records and the certified copy of the assessment order for the corresponding year under the indian income-tax act. the said notice also informed the assessee that failure to comply with any of the terms of the notice would render him liable to prosecution under section 53(1 .....

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Sep 08 1970 (HC)

Kamal Agency and ors. Vs. the State of Maharashtra

Court : Mumbai

Decided on : Sep-08-1970

Reported in : AIR1971Bom332; (1970)72BOMLR928

..... sales or dealings take place within the territory of the state of maharashtra, which is the respondent in this petition.3. the first petitioner is a partnership firm, of which the second petitioner is a partner. the first petitioner has been appointed an agent by each of the states of kerala, punjab, ..... a state lottery or a lottery authorised by the state government shall be punished as provided in that section. it was pointed out that the indian penal code is an all india legislation; it was pointed out that out of the various activities in connection with the organising and conducting of ..... state and that therefore even if a lottery organised by another state without lawful authority is to be included as attracting the provisions of the bombay lotteries act, the respondent state government has no authority to legislate in respect of such a lottery. now, in our opinion, as already stated earlier, both ..... has a state any executive power in respect thereof under article 298; and(5) what are excepted under section 32 (b) of the bombay lotteries act are lotteries lawfully organised by a state and therefore, unless a lottery organised by another state is lawful, in the sense that it is authorised, the ..... a writ of mandamus under article 226 of the constitution of india against the state of maharashtra ordering the respondents to forbear from doing any act or thing so as to prevent, obstruct or interfere in any manner with the free and unrestricted sale and distribution of and/or leadings in .....

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