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Judgment Search Results Home > Cases Phrase: indian partnership act Year: 1973 Page 10 of about 140 results (0.097 seconds)

Sep 06 1973 (HC)

Maneklal Bhagwandas Vs. N.N. Sheth, Income-tax Officer, Surat

Court : Gujarat

Decided on : Sep-06-1973

Reported in : [1974]94ITR287(Guj)

..... of rs. 10,000 (ten thousand) denomination, the numbers of which are as under. the aforesaid amount has been taken in accordance with the agreement of partnership executed by us to-day.' and then the numbers of the ten currency notes of rs. 10,000 each are set out. on july 10, 1969, ..... desai and withdrawn an amount of rs. 2,00,000 from the state bank of hyderabad, secretariat branch, hyderabad. on july 1, 1969, an agreement of partnership was executed by the petitioner and ratilal desai. on that very day, that is, on july 1, 1969, the petitioner passed a receipt for the sum of ..... ratilal desai in respect of the said sum of rs. 1,70,000. the petitioner retained with him one copy of the agreement or deed of partnership and the original document on stamp paper was retained by ratilal desai. ratilal desai had also asked the petitioner to invest the moneys if the petitioner ..... invest the said sum of rs. 2,00,000 in the petitioner's factory at surat. the petitioner and ratilal desai thereupon decided to form a partnership firm in which it was also agreed to admit the son of ratilal desai as one of the partners. this son of ratilal desai was at ..... jewellery or other valuable article or thing represents either wholly or partly income or property which was not been disclosed for the purposes of the indian income-tax act, 1922, or this act, he may authorize any deputy director of inspection, inspecting assistant commissioner, assistant director of inspection or income-tax officer to seize any such .....

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Sep 12 1973 (HC)

Raj Bahadur Bhatnagar Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Sep-12-1973

Reported in : [1975]98ITR382(All)

..... omission or failure to file a return by the assessee.5. in our opinion the circumstance that rs. 13,000 had been introduced in the present partnership by the assesses as his capital was a good reason for making the income-tax officer believe that the amount represented the income of the assessee and ..... the present question referred to this court for opinion.3. the tribunal has held that the circumstance that the assessee had introduced rs. 13,000 in the partnership as his capital was sufficient reason for the income-tax officer to believe that the income of the assessee chargeable to tax had escaped assessment. it further ..... the assessing authority had no rightto change his previous opinion about the non-taxability of the amount andtax the same amount under section 34 of the indian income-tax act, 1922,on a change of his opinion. no case has been cited in which the assessment was made in respect of any assessee for the ..... was of such an amount which was above the minimum non-taxable limit, the assessee had to file a return under section 22(1) of the indian income-tax act, 1922. in case he omits to file such a return it would be a case of omission to file the return. in the case of ..... to the present assessee as an individual under section 147(a) of the income-tax act, 1961, and included in his assessment the sum of rs. 13,000 along with the income got by mm as his share in the partnership. the assessee challenged the order before the appellate assistant commissioner on the ground that .....

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Apr 06 1973 (HC)

Commissioner of Income-tax Vs. Naresh Chandra Bhargava

Court : Allahabad

Decided on : Apr-06-1973

Reported in : [1974]97ITR572(All)

..... to any deduction on account of interest, etc. to us the argument appears to be wholly without force. if the assessee had transferred to the partnership firm the liability on account of two loans, the firm would have been entitled to claim deduction in respect of these loans but since the assessee did ..... in the status of an individual. in the previous year, relevant to the assessment year 1956-57, the cinema business was taken over by a partnership-firm of the name and style of niranjan lal bhargava and company in which the assessee had 6/16ths share. the tribunal has found that the ..... to carry on business. it cannot be disputed that the share income of a person from a partnership firm carrying on business is income from business and every expenditure allowable under section 10(2) of the act in the computation of the business income is permissible to such a person. it is argued by ..... in connection with the assessee's business.3. before the income-tax appellate tribunal the assessee based his claim under section 10(2)(xv) of the act as expenditure incurred wholly and exclusively for the purpose of the business. the tribunal has accepted this claim and has held that the assessee was entitled ..... gulati, j.1. in compliance with the direction of this court under section 66(2) of the indian income-tax act, 1922 (hereinafter referred to as 'the act'), the income-tax appellate tribunal, allahabad, has referred the following question for the opinion of this court:'whether, on the facts and in .....

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Apr 06 1973 (HC)

Western Engineering Company Vs. America Lock Company

Court : Delhi

Decided on : Apr-06-1973

Reported in : ILR1973Delhi177

..... appears to be no order of the court permitting this amended petition to be filed. in this amended petition, it is disclosed that m/s. america lock company is a partnership firm and the petition is also verified. the first two issues framed in this case, relate to the absence of verification and the absence of averment in the application concerning ..... business as a manufacturer of locks of various types. among other products, it manufactures cycle frame locks of horse-shoe shape for locking bicycles. similarly, western engineering company, is another partnership firm carrying on business as a manufacturer of locks, which also manufactures bicycle locks. the latter firm, i.e.. western engineering company applied for the registration of a design of ..... registrations of their respective designs for horse-shoe shaped cycle lock. (2) on 22nd november, 1966, the america lock company instituted a petition under section 51-a of the indian patents and designs act, 1911, for the cancellation of the design registered in favor of the western engineering company. that petition was c. o. no. 1 of 1966, in this court; it ..... accordance with its claim in the suit. (5) m/s. western engineering company having instituted the aforementioned suit, also instituted a further proceeding under section 51-a of the indian patents and designs act, 1911 on 10th july, 1967. in this latter petition, which was c. o. no. 7 of 1967 in this court, it was claimed that the registered design of .....

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Mar 21 1973 (HC)

J.H. Gotla Vs. Commissioner of Income-tax, Mysore

Court : Karnataka

Decided on : Mar-21-1973

Reported in : [1973]91ITR531(KAR); [1973]91ITR531(Karn); (1973)1MysLJ517

..... income-tax by transferring his assets to his wife or minor child or admitting his wife as a partner or admitting his minor child to the benefits of partnership in a firm in which such individual is a partner. in such a case, the income of the wife or minor children is regarded as the income ..... income of hiss minor sons included in his income under section 16 (3) as the assessee's earned income. minor minor sons were admitted to the benefits of partnership in a firm of which the assesses was a partner. i was held by the madras high court in marimuthu nadar v. commissioner of income-tax that such ..... much as that business was being carried on by the from in which his wife was a partner and his minor children were admitted to the defendants of the partnership and the share income of his wife and minor children was included in the assessee's income under section 16 (3). 2. the department, being aggrieved by ..... the losses against the share income of the assessee's wife and minor children in respect of the assessment year 1959-60 under section 24 (2) of the indian income-tax act, 1922 ?' [after setting out the statement of case the learned judge continued] 7. these are three reference made at the instance of the assessee by the ..... was being carried on by the firm in which his wife was a partner and his minor children were admitted to the benefits of the partnership and their share of income was held by the department as an income of the assessee, alothough under section 16 (3) of the income-tax .....

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Aug 16 1973 (SC)

Commissioner of Income-tax, Bombay Vs. Onkarmal Meghraj (H.U.F.)

Court : Supreme Court of India

Decided on : Aug-16-1973

Reported in : AIR1973SC2585; [1974]93ITR233(SC); (1974)3SCC349; [1974]1SCR391

..... or individuals forming an association of individuals because in such cases though they are not eo nomine parties they could be deemed to be represented by the huf, partnership or association before the relevant income-tax authority. such is not the case with regard to these individuals because no huf was before the concerned income-tax authority- ..... commissioner the income-tax officer issued notices under section 34 to all the 13 persons in april 1954 after obtaining the commissioner's approval. by that time the indian income-tax (amendment) act, 1953, which among other things amended section 34(3), had come into effect on 24-5-1953 but had retrospective effect from 1-4-1952. the ..... also the second question was referred to the high court.5. before the high court a contention was raised on the basis of the provisions of the indian income-tax (amendment) act (i of 1959) that notices issued and the action taken in the present cases could not be called in question on the ground that the period ..... the case of the appropriate h.u.fs. and having regard to the second proviso to section 34(3) as amended by section 18 of the indian income-tax (amendment) act, 1953 the reassessment made by the income-tax officer on 31-1-1955 in the case of any one or more of the assessees is governed by ..... a. alagiriswami, j.1. sixteen persons constituted a partnership firm known as m/s. narayandas kedarnath under an agreement dated 19-5-1930. out of the said 16 persons three were outsiders and thirteen were members .....

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Aug 14 1973 (HC)

Baku Rao Patel Vs. the State

Court : Delhi

Decided on : Aug-14-1973

Reported in : 1973RLR637

..... further, while comparing the british rule of 200 years to that of the muslim rule of a thousand years, wrote that the british had never raped indian women, kidnapped indian children, burnt indian homes or slaughtered the indian people. but still the statues of their kings, governors and viceroys, some of which were imposing works of sculpture worth maintaining for their natural beauty ..... multiplied on loot, rape, arson, murder and forced conversions became partners of a secular nation. the only logic in this forced partnership is of the fanatical aggression of the muslims as against the cowardly submission of the hindus. the partnership has neither historical title nor moral sanction. raiders, at the most, can be tenants, never owners.' 'if the broom that ..... patel alleging that by publishing the articles discussed above he had tried to promote feelings of enmity or hatred between hindus and muslims on ground of religion and had thereby acted in a manner prejudicial to the maintenance of harmony between the religious groups or communities. (10) the trial magistrate found the petitioner guilty of the offences charged with ..... attempting to promote feelings of enmity or ill-wiil between the different classes of citizens must necessarily have the affect of creating public disorder. a legislation aiming to prevent such acts would be in the interests of the public order and the restrictions imposed therein would be reasonable restrictions. (15) a similar argument was raised before a bench of .....

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Feb 06 1973 (SC)

Moosa S. Madha and Azam S. Madha Vs. the Commissioner of Income Tax, W ...

Court : Supreme Court of India

Decided on : Feb-06-1973

Reported in : AIR1973SC2356; [1973]89ITR65(SC); (1973)4SCC128; [1973]3SCR497

..... umbrella. it is seen that he was a successful businessman. the assessee's father died in 1936 and thereafter the business was carried on by a partnership consisting of the assessee and his sons. the assessee had ancestral property in variav. he purchased a plot of land in bombay in 1942. after the ..... 66itr457(sc) , this court ruled that in order that the assessee may be treated as resident in british india under section 4a-(a) (iii) of the act the onus of proving that the assessee was in british india during the four years preceding the previous year for a period of or for periods amounting in all ..... in india in the calendar year 1947, we must first examine the scope of section 4a(a) (iii). that section reads :for the purposes of this act-(a) any individual is resident in the taxable territories in any year if he-(i)....(ii)....(iii) having within the four years preceding that year been in ..... burma during those assessment years. as those returns were not filed within time the income tax officer took proceedings under section 34(i) (a) of the act for the assessment years 1947-48 and 1948-49. the income tax officer assessed the assessee in the status of a 'resident' but 'not ordinarily resident' ..... it arises from the decision of the high court of calcutta in a reference under section 66(1) of the income tax act 1922 (to be hereinafter referred to as the act). it relates to the assessee's income tax assessment for the assessment year 1948-49, the relevant accounting year being the calendar .....

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Feb 12 1973 (HC)

Nathmal Bhaironbux and Co. and ors. Vs. Kashi Ram and ors.

Court : Rajasthan

Decided on : Feb-12-1973

Reported in : AIR1973Raj271; 1973()WLN505

..... had taken place at bombay. it was also submitted that the firms bhaironbux and company and nathmal bhaironbux and company, bombay were two independent partnership firms. the former, therefore, denied the transactions taking place at bombay and the latter firm took the plea that the court at bikaner ..... relation with the plaintiff than to allow the plaintiff to gam the benefit of an illegal transaction.'then their lordships referred to some more english and indian cases including bigos v. bousted, (1951-1 all er 92) and extracted the following principles :-- 'the correct position in law, in our ..... remind myself of the relevant statutory provisions which have been referred to in the earlier part of this judgment. according to section 3 of the act, the central government may, by order published in the official gazette, make provisions for prohibiting, restricting or otherwise controlling, in all cases or ..... the usual commission. the courts, however, cannot recognise such a practice or course of dealings in which the contravention of the provisions of the act or the exports (control) order are involved. the dealings would be rendered unlawful in that event. therefore, if in the present case the ..... hand, contended that the defendants had never disclosed to the plaintiffs that they were appropriating the bales to themselves. they had thus clearly acted in breach of their duty as plaintiffs' commission agents and consequently if they had derived any benefits or profits out of the transaction they .....

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Jul 17 1973 (HC)

Moti Lal and Sons Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Jul-17-1973

Reported in : [1975]101ITR177(All)

..... the business was formerly being carried on by a joint hindu family, but subsequently a partition took place and the business was converted into a partnership. the partnership firm consisted of motilal and his four sons, who are still partners in the firm, along with their mother after motilal's death. certain ..... circumstances of the case, the tribunal was justified in holding that the sum of rs. 7,029 was assessable under section 10(2a) of the indian income-tax act, 1922 ?'2. the assessment year involved in the present case is 1956-57 and the corresponding account year is from november 1, 1954, to ..... -tax officer, sought to include this amount under the provisions of section 41(1) of the income-tax act, 1961, which is in pari materia to section 10(2a) of the indian income-tax act, 1922. it was held by the supreme court that the successor in business or a legal representative of ..... the period january 26, 1950, to march 31, 1951. messrs. mohanlal hargovindas had subsequently filed an appeal against their assessment made under the sales tax act and this appeal was allowed, and an amount of rs. 24,341 was remitted. consequently, messrs. mohanlal hargovindas refunded that amount to the assessee by ..... the earlier years, on the ground that it was an amount received back by the partners and was taxable under section 10(2a) of the act. the assessee appealed before the appellate assistant commissioner but the appeal failed. thereafter, the assessee took out an appeal to the tribunal. the tribunal .....

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