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Judgment Search Results Home > Cases Phrase: indian partnership act Year: 1973 Page 1 of about 140 results (0.062 seconds)

Nov 22 1973 (HC)

Commissioner of Income-tax, Bombay City Ii Vs. Raghavji Anandji and Co ...

Court : Mumbai

Decided on : Nov-22-1973

Reported in : [1975]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 .....

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Aug 10 1973 (HC)

United Hardwares Vs. Commissioner of Income-tax

Court : Kerala

Decided on : Aug-10-1973

Reported in : [1974]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 .....

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Jun 28 1973 (HC)

Mrudula Nareshchandra Vs. Controller Estate of Duty

Court : Gujarat

Decided on : Jun-28-1973

Reported in : [1975]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 .....

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Jul 30 1973 (HC)

R.M. Ramanathan Chettiar and anr. Vs. Controller of Estate Duty

Court : Chennai

Decided on : Jul-30-1973

Reported in : [1975]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 .....

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Jan 04 1973 (HC)

Dharam Pal Sat Dev Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Jan-04-1973

Reported in : [1974]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 .....

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May 08 1973 (HC)

Controller of Estate Duty Vs. N.K. Sanghi

Court : Rajasthan

Decided on : May-08-1973

Reported in : [1974]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 .....

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Nov 02 1973 (HC)

Bhagwanji Devraj Vs. the Union of India (Uoi) and anr.

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 .....

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Mar 02 1973 (HC)

The Commissioner of Income-tax Vs. Ram Laxman Sugar Mills, Mohiuddinpu ...

Court : Allahabad

Decided on : Mar-02-1973

Reported in : AIR1973All532; [1973]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 .....

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Mar 14 1973 (HC)

Godavari Pravara Canal Co-operative Purchase and Sale Union Ltd. Vs. K ...

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 .....

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Sep 05 1973 (HC)

S.P. Periaswami Konar and anr. Vs. S. Mikole Udayar and anr.

Court : Chennai

Decided on : Sep-05-1973

Reported in : (1975)1MLJ70

..... kesava iyengar, the learned counsel for the first respondent, in this connection, drew our attention to the provisions contained in section 48 of the indian partnership act, 1932 and contended that in clause 7 of the partner-ship deed entered into between the parties, it has beep expressly provided that the construction ..... of accounts from defendants 1 to 3 independent of any general account relating to the partnership. the position in this behalf is not in dispute and has been clearly laid down in section 4 of the indian partnership act, 1932. that section provides : 10on the dissolution of a firm every partner or ..... their representatives according to their rights.as has been pointed out by the editor of pollock and mulla on the sale of goods act and the partnership act, third edition (1965) at page 366.no suit can be maintained by one partner against another in respect of any transaction which forms ..... , contends that as a matter of law, whenever a partner files a suit against his other partners in relation to matters concerning the partnership after the partnership has been dissolved, the only remedy available to him is to file a suit for general accounting and he cannot file a suit for ..... an item of the partnership account, for such a suit would, from its very nature, involve the taking of the whole partnership account, and this can .....

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