Court : Mumbai
Decided on : Nov-22-1973
Reported in : 100ITR246(Bom)
..... state that all contracts between a person a, and a and others would be invalid. reference may be made in this connection to the provisions of section 46 of the indian partnership act, 1932, where a partner may enforce as against the firm of which he is a partner certain contractual rights by means of a suit (without dissolution), whereas other can only ..... accordingly it was invalid. in my view, it would be clearly invalid inasmuch as the plurality of persons necessary to constitute the relationship of partners under section 4 of the indian partnership act, 1932, did not exist in that case.11. very strong reliance was placed by the learned counsel for the revenue on the decision of the privy council in lachhman das ..... authorities, or, if erroneously registered, the registration may be subsequently cancelled by the commissioner under his powers under section 33b of the act. the validity of a partnership would have to be decided with reference to the express provisions of the indian partnership act, and, in a case such as the one before us, with further reference to the principles of hindu law. if it ..... the registration. we have to consider whether that is the correct position in law.10. according to mr. hajarnavis, a partnership is a contractual relationship between persons who have agreed to do certain things as provided for under section 4 of the indian partnership act, 1932. according to him, therefore, if there was such an agreement entered into by vandravan purshottam in his one .....Tag this Judgment!
Court : Kerala
Decided on : Aug-10-1973
Reported in : 96ITR348(Ker)
..... that judgment. we shall extract a paragraph from that judgment :' the question is not whether there is any rule of law discernible either from section 13(b) of the indian partnership act, 1932, or from any general principle from which it is possible to discern the proportion in which the losses should be shared but as to whether section 184 insists ..... partners to third parties '. though the wording in clause 15 of the partnership deed is not very clear as to what are the provisions of the indian partnership act that are intended to be made applicable it may not be unreasonable to construe that clause to refer to chapters iii and iv of ..... avaran koya. 25% ............................. 15. in matters wherein no specific mention is made hereunder, the provisions of the indian partnership act, 1932, shall prevail with respect to the relationship between the partners and the firm and third parties.' 3. chapter iii of the indian partnership act, 1932 (for short ' the act ') deals with ' relations of partners to one another ' and chapter iv thereof deals with ' relations of ..... the partnership act. so construed, the provisions in the act dealing with 'relations of partners to one another' will be attracted. the provisions in section .....Tag this Judgment!
Court : Gujarat
Decided on : Jun-28-1973
Reported in : 100ITR297(Guj)
..... in favour of his legal representatives. 11. we find that these contentions of the learned advocate of the accountable persons suffer from a serious misapprehension as regards the incidence of partnership agreement. 12. sections 14 and 15 of the indian partnership act preclude any partners from claiming any property or any specific share in any property of the firm so long as the ..... partnership subsists and the accounts thereof are not taken. this is because of the community of interest which all the partners have in the properties of the firm. but this does ..... further contended that, on account of the dissolution of the firm resulting from the death of a partner, new rights come into existence as provided by section 46 of the partnership act in favour of his legal representative. according to shri pathak, therefore, extinguishment of the deceased partners and emergence of new rights in favour of his legal representatives show that there ..... , the interest of the deceased extended even to it. as held by the supreme court in k. k. shah v. khorshed banu, section 55 of the partnership act does not provide that goodwill of a partnership firm can be taken into account only when there is a general dissolution of the firm, and not when the representatives of a deceased partners claim his .....Tag this Judgment!
Court : Chennai
Decided on : Jul-30-1973
Reported in : 99ITR410(Mad)
..... , but by the very intention of the parties to treat such property belonging to one or more of the members of the partnership as that of the firm. the learned judges in that case referred to section 14 of the indian partnership act in support of the said view. section 14 states that ' theproperty of the firm includes all property and rights and interests ..... of this court took the view that no document is necessary when a partner brings into the partnership some of his assets with an intention to treat the same as partnership assets, that by virtue of section 14 of the partnership act, property could be thrown into the partnership stock without any formal document, so as to make it the property of the firm. the ..... contention of the assessee that unless there is a document of transfer, the immovable properties in question cannot be treated as partnership assets, cannot, therefore, be accepted. 6. if the immovable ..... the share of the deceased in the foreign immovable properties. the contention of the assessee was that the share of the deceased in the partnership should have been exempted from duty under section 21(1)(a) of the act and that the rule 7(c) of the estate duty rules, 1953, which has been invoked in this case by the assistant controller .....Tag this Judgment!
Court : Punjab and Haryana
Decided on : Jan-04-1973
Reported in : 97ITR302(P& H)
..... new partnership was formed between sat dev and dharam pal, partners of the dissolved firm, and shri sham lal, son of the deceased partner, shri ..... only be referred to if it is found that a particular situation is not covered by the provisions of the income-tax act. though a particular firm, in view of the provisions of section 42(c) of the indian partnership act, may stand dissolved, if we come to the conclusion that such a case is covered by the provisions of section 187 of the ..... of which ram rattan, deceased, was a partner stood dissolved in view of the provisions of section 42(c) of the indian partnership act, as there was no provision in the partnership deed providing that, in the event of death of any partner, the partnership would continue. it is contended that a completely new entity came into being on june 9, 1966, when a new ..... ram rattan died on june 6, 1966. there was no provision in the partnership deed for the continuance of the partnership in the event of death of any partner and, therefore, it is pleaded by the assessee that, in view of the provisions of section 42(c) of the indian partnership act, the firm stood dissolved on june 6, 1966, on june 9, 1966, a .....Tag this Judgment!
Court : Rajasthan
Decided on : May-08-1973
Reported in : 97ITR119(Raj); 1973()WLN372
..... was invested in a firm of which shri motilal sanghi was a partner.14. in this connection, we shall have to refer to the provisions of the partnership act. according to section 14 of the indian partnership act, all property and rights and interest in property originally brought into the stock of the firm becomes, subject to a contract between the parties, property of the ..... firm. the whole concept of a partnership is to embark upon a joint venture and for that purpose to bring in as capital money or other property including immovable ..... that a person contributing the asset enjoys the right of ownership to the exclusion of other partners of the firm.15. while examining the scope of the provisions of the partnership act vis-a-vis the nature of the capital employed in the partnership business their lordships of the supreme court in addanki narayanappa v. bhaskara krishnappa referred to various provisions of the ..... property gifted by john chick was so used in connection with the partnership business. after the death of john chick, a question arose whether the value of the property gifted by him was liable to be included in the dutiable estate under section 102(2)(d) of the stamp duties act of new south wales which provision was analogous to the provisions .....Tag this Judgment!
Court : Gujarat
Decided on : Nov-02-1973
Reported in : (1975)16GLR357
..... or more partners is joint or several liability of each all of the partners. the analogy advanced by mr. shah clearly militates against the provisions of section 25 of the indian partnership act and cannot, therefore, be accepted.14. the next argument which mr. shah has raised before me is that rule 443 is penal in character and that, therefore, it should be ..... oil mills. that proposition submitted by mr. shah is quite correct. however, the liability of a partner must be determined in light of the provisions of section 25 of the indian partnership act to which i have referred earlier. it may be noted at this stage that the petitioner has not ceased to be a partner of shakti oil mills.13. the next ..... of the telephone installed in the name of the firm. the analogy which mr. shah has given does not hold good on account of provisions of section 25 of the indian partnership act. personal liability of a partner is not the liability of all the partners constituting the firm. what section 25 provides is that the liability of a ..... the privy council in bhagwanji a for goculdas v. alembic chemical works co. ltd. and ors. . it has been laid down by the privy council in that decision that a partnership firm, under the indian partnership act, possesses a distinct personality. that observation has been made by the privy council in the context of change in the constitution of the .....Tag this Judgment!
Court : Allahabad
Decided on : Mar-02-1973
Reported in : AIR1973All532; 90ITR73(All)
..... . he would continue to be a partner unless he retires or is adjudicated an insolvent or dies or is expelled in accordance with the provisions of section 33 of the indian partnership act. similarly a person may be a partner in a firm and may yet be appointed as an authorised controller by the central government under section 3 read with section 4 ..... to and received by them in the capacity of partners of the assessee firm.21. for the purposes of income-tax act as well, the words 'firm', 'partner' and 'partnership' have the same meanings respectively as in the indian partnership act of 1932. 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 'partners' and collectively 'a firm' and the name ..... business and the share of the partner is the business income in his hands for the purpose of section 10 (1) of the indian income-tax act, 1922. a partner, however in a partnership cannot be an employee of that partnership and any salary received by a partner from the firm is but a part of his share of profits. hence even if the .....Tag this Judgment!
Court : Mumbai
Decided on : Mar-14-1973
Reported in : AIR1974Bom52; 1974MhLJ75
..... india. as to the nature of the firm but the firm must be carrying on business in india. as to the nature of the firm under section 4 of the indian partnership act, 1932, the court observed that the word 'firm' or the 'firm name' was merely a compendious description of all the partners collectively. it followed, therefore that where a suit is ..... the partners of the dissolved firm 'haribhau sant & co.' in the very first paragraph the plaint alleges that there is a firm by name haribhau sant & company registered under the indian partnership act, 1932 and also discloses the registration number. further it gives the details of the partners, one being plaintiff himself and other being deceased haribhau. it alleges that the firm is ..... persons jointly is clearly a matter of debate. distinction however fine does exist and must be given effect to.11. the nature of partnership is referable to the provisions of section 4 of the indian partnership act, 1932, which states that 'partnership' is the relation between persons who have agreed to share the profits of a business carried on by all or any or them ..... they carry on the business is an entity specifically recognized and treated as such by the provisions of the indian partnership act, giving rise to certain rights and obligations between the parties and also those who deal with such firms. the provision of that act provide ample machinery to indicate how the firm is constituted and how it works and how it can be .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Apr-11-1973
Reported in : AIR1973SC1245; 89ITR274(SC); (1974)3SCC116; 3SCR959; 1973(5)LC648(SC)
..... year,(ii) before the end of the previous year in any other case; (b) where the firm is registered under the indian partnership act, 1932 (dc of 1932), or where the deed of partnership is registered under the indian registration act, 1908 (xvi of 1908), before the end of the previous year of the firm; and(c) where the application is or ..... within the specified time.6. the assessee firm was not registered under the indian partnership act before the application under section 26a of the act was made nor was the partnership deed registered under the indian registration act. the partnership deed submitted along with the application for registration disclosed that the partnership constituted under that deed was void in view of section 30 of the ..... before the 28th february, 1953, and for any year of assessment subsequent therto, be made :-(a) where the firm is not registered under the indian partnership act, 1932 (ix of 1932), or where the deed of partnership is not registered under the indian registration act, 1908 (xvi of 1908), and the application for registration is being made for the first time under the ..... partnership act as one of the five partners was a minor. hence the application made .....Tag this Judgment!