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Judgment Search Results Home > Cases Phrase: indian partnership act Year: 1970 Page 4 of about 131 results (0.060 seconds)

May 13 1970 (HC)

Sita Ram Har Govind Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : May-13-1970

Reported in : [1971]79ITR575(All)

..... during the relevant previous year and, therefore, had no income at all during that period. there is also the consideration that the partnership deed, which is relevant for the purposes of registration under section 26a of the indian income-tax act, is that operative during the account year relevant to the assessment year for which registration is claimed. that view was expressed in ..... recital in the deed of 1958 to suggest that the previous firm was being continued. on the contrary, the deed recites that the parties 'shall carry on business in partnership. .....' and that ' the partnership commenced onbhadaut sudi six sambat do hazar pandrah, corresponding to 18th september, 1958. . ..' moreover, while clause 4 of the deed of 1956 merelyprovided that the capital of the ..... the assessee was unsuccessful in appeal before the appellate assistant commissioner, and, thereafter, in second appeal, before the income-tax appellate tribunal.2. the assessee-firm was constituted under a partnership deed dated december 22, 1956, and consisted of 5 partners, hargovind, jawahar mal, madan lal, murlidhar and ratan lal, and one ram kishore, a minor, was admitted to the benefits ..... pathak, j.1. the assessee was registered under section 26a of the indian income-lax act, 1922, for the assessment year 1958-59. it applied for renewal of registration on june 29, 1959, for the assessment year 1959-60, the relevant previous year being the period .....

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Mar 05 1970 (HC)

Simhadri Narasingh Prusty and ors. Vs. Commissioner of Income-tax

Court : Orissa

Decided on : Mar-05-1970

Reported in : [1971]79ITR219(Orissa)

..... to appreciate the point in issue. simhadri narasingh prusty and chinnam judhistir patro constituted a partnership business. they carried on business from 1948-49 onwards. it had been granted registration under the indian income-tax act, 1922, up to and including the assessment year 1959-60 judhistir patro was a ..... his minor son, budhibaman patro. the partition was effected by a registered deed and was given effect to under section 25a of the indian income-tax act, 1922. from january 6, 1959, budhibaman patro was shown as a partner in the books of the firm and the capital ..... standing to the credit of his father was credited in his name. subsequently, it was realised that the partnership with the minor was contrary to law and as such judhistir desired to constitute a fresh partnership ..... the promissory note was genuine. admittedly it was ante-dated. the tribunal should have examined whether, in fact, the recitals in the partnership were correct, after taking into consideration not only the promissory note but other surrounding circumstances and evidence. if after such examination it came to ..... on these matters.8. on the aforesaid analysis we would answer the question thus :without recording a finding that the arrangement in the partnership deed dated october 1, 1959, was a mere subterfuge, the application for registration cannot be rejected. if the arrangement is found to be .....

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Jun 25 1970 (HC)

ishverlal and Bros. Vs. N.N. Seth, Income-tax Officer, Surat

Court : Gujarat

Decided on : Jun-25-1970

Reported in : [1972]85ITR414(Guj)

..... the affidavit-in-reply does not put reliance on the non-disclosure of these three facts. clause (a) of section 147 of the indian income-tax act speaks about the belief of the income-tax officer who seeks to reopen the assessment. it is not the case of the income-tax officer ..... commissioner, an appeal was preferred to the tribunal but even the tribunal rejected the prayer of the bangalore firm to obtain the registration under the indian income-tax act. while rejecting this prayer, the tribunal observed that the bangalore firm was not an independent firm and that it has continued as a branch ..... income earned by the petitioner-firm. 5. facts of the case further show that the above referred bangalore firm applied for its registration under the indian income-tax act on june 7, 1958. this application was rejected by the income-tax officer mainly on two grounds, namely, (i) that the capital of ..... 1961-62. 2. short facts of the case are that the petitioner is a partnership firm consisting of four partners, who are inter-related ..... mehta, j.1. the petitioner, m/s. ishverlal & brothers, a partnership firm, has filed this application for obtaining a writ to quash and set aside the notices served upon it under section 148 of the indian income-tax act, 1922, for the reassessment of its income for the assessment years 1959-60, 1960-61 and .....

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Sep 24 1970 (HC)

Commissioner of Income-tax Vs. Smt. Triveni Devi

Court : Allahabad

Decided on : Sep-24-1970

Reported in : [1971]81ITR511(All)

..... the minor as interest on the capital is an indirect result of his being admitted to the benefits of partnership, and has to be included in the total income of his father under section 16(3)(a)(ii) of the indian income-tax act, 1922.7. in s. srinivasan v. commissioner of income-tax, [1967] 61 i.t.r ..... allowed was assessable in the hands of the appellant under sub-clauses (i) and (iii) of clause (a) of section 16(3) of the indian income-tax act, 1922. it was held by the supreme court that interest accrued to the wife and minor sons because of their capacity mentioned in section 16(3)(a ..... deposit or loan. the department relies upon clause (ii) of section 64 of the act. in order to bring the case under clause (ii) of section 64, it was for the department to establish a connection between the partnership of the minor and the receipt of interest on the money brought in by the minor ..... . 273 ; [1967] 1 s.c.r. 729 (s.c.) the appellant was senior partner in a firm in which his wife and a stranger were partners, and two minor sons were admitted to the benefits of the partnership ..... the partnership deed did not cast any obligation upon minors to maintain any deposits in the firm. the question arose whether interest which minor partners had received on deposits standing to their credit in the firm could be included in the total income of the assessee under section 16(3)(a)(ii) of the indian income-tax act, .....

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Oct 05 1970 (HC)

Vrajlal Makandas Valiya Vs. L.D. Joshi, Collector

Court : Gujarat

Decided on : Oct-05-1970

Reported in : (1971)12GLR586

..... 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. it prescribes the sequence if which the various outgoings are to be applied and the residue remaining is to ..... 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 ..... to his trustee.the supreme court had also occasion to consider this question in narayanappa v. bhaskara krishnappa : [1966]3scr400 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 fee returned to the original owner in satisfaction .....

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Jan 19 1970 (HC)

Mills Store Co. Vs. Commissioner of Income-tax, Bombay City Ii

Court : Mumbai

Decided on : Jan-19-1970

Reported in : [1971]80ITR225(Bom)

..... .j.1. this is a reference under section 66(1) or the indian income-tax act, 1922. 2. messrs. mills store company, a partnership firm constituted of six partners, was carrying on business at karachi with branches, amongst other places, at bombay. as at the end of march, 1948, that partnership was dissolved and its accounts were made up. as from 1st april, 1948 ..... be referred to as 'the karachi firm'. as from 1st april, 1948, the three remaining partners took over the bombay business and continued it in the same old name in partnership with to new partners. this firm will be referred to as 'the assessee-firm'. 3. after these two new firms were formed there were numerous transaction between them. the income .....

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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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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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May 26 1970 (SC)

Luka Mathai Vs. Neelakanta Iyer Subramonia Iyer

Court : Supreme Court of India

Decided on : May-26-1970

Reported in : (1971)3SCC974; [1971]1SCR629

s.m. sikri, j.1. this appeal by certificate granted by the high court of kerala is directed against its judgment and decree reversing the judgment and decree of the trial court and dismissing the suit of the original plaintiff, appellant before us. the relevant facts for determining the points raised before us by mr. chagla. learned counsel for the appellant, are as follows.2. on december 5, 1931, the plaintiff executed a hypothecation bond in favour of the travancore government in respect of a loan of rs. 6,000/-. on december 12.1931. another bond was executed in respect of a further loan of rs. 4.400/-. on may 28, 1932, the plaintiff executed another hypothecation bond in favour of the father of neelakama iyer subramonia iyer respondent before us. in the government gazettes dated february 21. 1939, and april 25, 1939, under paragraph 6 reference is made to the arrears of rs. 4,193 chs. 19 ca. 9 plus interest under the special loan to be paid by luka mathai of pallithanathu, kottayam taluk, and the sale of 97 acres of nilam comprised in survey 545/32-11/1 and 14 cents of purayidam comprised in survey 532/3.3. a notice was issued to the plaintiff in march or april 1939 (27-8-1114 m.e.) that as he had to repay rs. 4,193 chs. 19 ca. 9 under the special loan plus the execution costs and the interest thereon 'it-is hereby made known that 107 acres 84 cents of properties belonging to you and comprised in survey numbers 545/ 32-11/1, 481/3, 481/4a, 481-/4c etc. of pulinkunnu .....

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Nov 27 1970 (SC)

M.C. Sulkunte Vs. State of Mysore

Court : Supreme Court of India

Decided on : Nov-27-1970

Reported in : AIR1971SC508; 1971CriLJ519; (1970)3SCC513; 1971(III)LC83(SC)

..... to show that the appellant in counter-signing the certificate issued by the medical officer of bidar, p.w. 27, was only doing a professional act by way of private practice and that he was entitled to payment of fees therefore. such a case requires investigation into facts, which were not brought ..... of the proceedings inter alia on the ground that the investigation had not been carried on by a designated officer under section 5-a of the act. the special judge went into the question in some detail and held that on the facts of the case there was administrative exigency to permit the ..... present at the headquarters! further the inspector did not tell him why he and not the high ranking officer mentioned in section 6-a of the act was going to investigate the case. in his cross-examination he stated that he felt that the matter was urgent and the offence was likely to ..... permission to an inspector of police, p. ramarao, to investigate the offence of criminal misconduct of obtaining illegal gratification.3. section 5-a of the act contains certain safeguards from undue harassment of public officers from enquiry by ensuring that the investigation in regard to the offences specified is conducted by a police ..... subsequently the state also filed criminal petition no. 126 of 1965 for enhancement of the sentence on the ground that under section 5(2) of the act the minimum punishment was to be not less than one year unless the court for special reasons thought fit to do otherwise. the reasons given by .....

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