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Judgment Search Results Home > Cases Phrase: indian partnership act Year: 1973 Page 9 of about 140 results (0.055 seconds)

Nov 17 1973 (HC)

Ramdas Khimji Brothers Vs. Commissioner of Income-tax, Bombay City I

Court : Mumbai

Decided on : Nov-17-1973

Reported in : [1974]97ITR361(Bom)

..... on which tax was at any time charged under the provisions of the indian income-tax act, 1918 (7 of 1918), is succeeded in such capacity by another person, the change not being merely a change in the constitution of a partnership, no tax shall be payable by the first mentioned person in respect of ..... the son transferred the business to a limited company, and for the assessment year 1948-49, he claimed relief under section 25 (4) of the indian income-tax act, 1922 and the question which arose was, whether on the facts stated above, there was a succession to the business within the terms of the said ..... facts and in the circumstances of the case, the firm of m/s. ramdas khimji bros. was entitled to relief under section 25 (4) of the indian income-tax act, 1922, in respect of the profits from its business for the period from october 1, 1951, to december 28, 1951, relevant to the assessment year 1953 ..... partners as a proprietary concern. 2. the said firm of ramdas khimji bros. claimed to be entitled to relief under section 25 (4) of the indian income-tax act, 1922, in respect of the profits from its business for the period from october 1, 1951, to december 28, 1951, the relevant assessment year being ..... the income from which had been charged to income-tax under the indian income-tax act of 1918. it was first charged to super-tax in 1920-21. the constitution of that firm was changed from time to time and some of the partnership deeds relating to the name are on record. on 11th december, .....

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Oct 31 1973 (HC)

Controller of Estate Duty Vs. Smt. Shanta Ben Mani Lal Patel

Court : Rajasthan

Decided on : Oct-31-1973

Reported in : [1975]100ITR229(Raj); 1973()WLN722

..... was not correct, the tribunal might have indicated as to on what basis, it concluded, that the entire assets and liabilities were taken over by the partnership firm. in our opinion, the present case is governed by the fourth proposition of law laid down in scindia steam navigation company ltd.. the learned ..... conclusion reached by the tribunal on the first part of the second question, namely, on the ground that there was no evidence to show that the partnership firm inherited all the assets and liabilities of the sole proprietary concern of the deceased, manilal. in commissioner of income-tax v. sri meenakshi mills ..... on the legality of the conclusion reached by the tribunal. in particular, the learned counsel urged that there was no evidence to show that the partnership firm which came into being in 1953 had inherited all the assets and liabilities of the sole proprietary concern of the deceased and, therefore, in ..... as fair and reasonable. on the point of rs. 29,322 the tribunal held that since the whole of the refund amount was kept in the partnership business one-fourth share of this amount fell to the share of the other partner, namely, purshottamdas patel, and, therefore, the whole amount could not ..... it is for the person who has applied for a reference to challenge these findings first by an application under section 66(1) of the indian income-tax act, 1922. if he has failed to file an application under section 66(1) expressly raising a question about the validity of the findings of .....

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Sep 24 1973 (HC)

S.P. Gramophone Co. Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Sep-24-1973

Reported in : [1974]97ITR532(P& H)

..... commissioner in appeal and the appellate assistant commissioner affirmed the decision of the income-tax officer. while dealing with the contention of the assessee that the firm was a genuine partnership firm, the appellate assistant commissioner observed as follows :'considering the circumstances, the provisions of the deed, the close relationship of the alleged partners, pre-existing relationship of master ..... the assessee is entitled to registration under section 26a of the indian income-tax act, 1922, read with rule 6 of the income-tax rules, 1922 ? (3) ..... part of the case,3. the said firm applied for registration for the assessment year 1961-62 under section 26a of the act. the application is dated 15th of september, 1960. the application was accompanied by the deed of partnership. the income-tax officer, however, rejected the assessee's application for registration because he was of the opinion that there was ..... thefollowing three questions of law for our opinion under section 66(1) of theindian income-tax act, 1922:'(1) whether, on the facts and in the circumstances of the case, and on a true construction of the instrument of partnership dated 1st april, 1960, a valid partnership came into existence ? (2) whether, on the facts and in the circumstances of the case, .....

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Aug 01 1973 (HC)

Controller of Estate Duty Vs. Shri Ved Parkash Jain

Court : Punjab and Haryana

Decided on : Aug-01-1973

Reported in : [1974]96ITR303(P& H)

..... be taken. the whole concept of partnership is to embark upon a joint venture and for that purpose to bring in as capital money or even property including immovable property. once ..... their lordships have described the nature of interest of a partner during the subsistence of a partnership and after its dissolution and the relevant observations read as under : ' from a perusal of these provisions it would be abundantly clear that whatever may be the character of the ..... court. 5. the answer to the question posed by the tribunal would not present much difficulty if we first find out the nature of interest of a partner in the partnership property and for that purpose reference may be made to the decision of the supreme court in addanki naryanappa v. bhaskara krishnappa, a.i.r. 1966 s.c. 1300 wherein ..... money, and all the partnership debts and liabilities have been paid and discharged. this it is, and this only which on the death of a partner passes to his representatives, or to a legatee of his share.........and which on hisbankruptcy passes to his trustee.'...... it seems to us that looking to the scheme of the indian act no other view can reasonably .....

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Jul 19 1973 (HC)

Commissioner of Income-tax Vs. P.N. Nagaraj and anr.

Court : Chennai

Decided on : Jul-19-1973

Reported in : [1976]102ITR83(Mad)

..... from its partners and there is nothing wrong in a partner having business of his own. the assessees as individuals brought the purchasers, the partnership firm, and binny & co., together to enter into a sale and purchase of the property and it is that assistance which was recognised ..... doing any real estate business before this particular transaction in question. but it is for the purpose of transacting this particular business of sale they organised the partnership firm, satyanarayana and nagaraj and company. in this connection we may also refer to the decision in commissioner of income-tax v. v. p. ..... the firm itself was constituted with the object of purchasing the land from binny & co. and in fact after purchase, it is stated, the partnership firm realised good profits by dividing and selling it as plots. these assessees were businessmen and were partners of some reputed firms like harrison co. ..... business, that it was only this information which put the idea into their heads of starting a business in real estate, that the partnership of which nagaraj brothers were partners had as its object the purchase of the properties of binny and company with a view to sell ..... vijaykuverba saheb of morvi v. commissioner of income-tax : [1963]49itr594(bom) , the bombay high court observed :'there is no doubt that under the indian income-tax act, 1922, even payments, which are voluntarily made may constitute ' income' of the person receiving them. it is not necessary- that in order that the .....

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Apr 23 1973 (SC)

Ratan Lal Goenka Vs. Madhab Prasad Goenka and ors.

Court : Supreme Court of India

Decided on : Apr-23-1973

Reported in : AIR1974SC2299; (1973)2SCC642; 1973(5)LC676(SC)

..... a compromise decree.2. the facts relating to the matter may be set out in a short compass. four persons, including the first respondent, founded a partnership under the name of 'sadhuram tularam'. they were also the managing agents of the private limited companies, shree radhakissen cotton mills co. ltd., and goenka ..... prasad goenka is not entitled to any execution of the said decree by means of conveyance of the said benaras properties belonging to the said partnership in his own favour.the first respondent filed a reply affidavit the relevant portion of which reads:15. with reference to paragraphs 16 and 17 ..... is wrongful or illegal. i deny that mannalal goenka is aiding or abetting me. i deny that mannalal goenka or myself have committed any wrongful act. i deny the other allegations contained in paragraphs 16 and 17 of the said affidavit.before the division bench it seems to have been argued that ..... cases have been initiated by the income tax authorities. a large number of certificates have been filed with the certificate officer under the public demands recovery act. particulars of the certificates so far as i am aware are annexed hereto and marked 'b'.(b) large sums of money have from time to ..... by the company of any three instalments of interest whether consecutively or otherwise.(11) ....(13) if any party or parties should fial, neglect or refuse to act in accordance with the terms contained in clause (3), (7) and (8) thereof of any of them the same shall be executable in the said .....

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Sep 27 1973 (HC)

Commissioner of Income-tax Vs. Dalmia Cement (Bharat) Ltd.

Court : Chennai

Decided on : Sep-27-1973

Reported in : [1976]104ITR337(Mad)

..... was entitled to have the losses for the assessment years 1952-53 to 1954-55 quantified and set-off against its share income from the partnership firm of dalmia magnesite corporation for the assessment years 1960-61 and 1961-62? 3. whether the appellate tribunal has jurisdiction to direct the income ..... the facts and in the circumstances of the case, the assessee was entitled to the deduction of interest and other expenses from its share income from the partnership firm of dalmia magnesite corporation for the assessment years 1960-61 and 1961-62 ? 2. whether, on the facts and in the circumstances of the ..... losses have been incurred in the same business which was originally run by the assessee-company as a proprietary concern but, later, run by the partnership of which the assessee is a partner. in this connection, the tribunal rejected the contention put forward on behalf of the department that since the ..... income and that it could not be said that the interest paid was the money borrowed for the purposes of investment as capital in the partnership firm 6. in relation to the assessment year 1961-62, the assessee-company again claimed deduction in respect of the establishment and interest charges ..... its share income from dalmia magnesite corporation for the assessment years 1960-61 and 1961-62 under the provisions of section 24(2)(iii) of the indian income-tax act, 1922 ? 5. whether, on the facts and in the circumstances of the case, the assessee, as a partner in the firm of dalmia .....

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Sep 10 1973 (HC)

Commissioner of Income-tax Vs. Ahmedabad Controlled Iron and Steel Reg ...

Court : Gujarat

Decided on : Sep-10-1973

Reported in : (1974)GLR1; [1975]99ITR567(Guj)

..... present case, it must be pointed out that premchand gokaldas, the managing director of the assessee-company, was sought to be prosecuted because he represented the assessee-company in the partnership firm of messrs. kashiparekh brothers. the assessee-company had put forward premchand gokaldas as its nominee and when it incurred the expenditure of rs. 15,420 in defending premchand gokaldas ..... gokaldas defended himself and in this connection the companyincurred an aggregate amount of expenditure of rs. 16,259. the city magistrate, third court, ahmedabad, acquitted all the accused except the partnership-firm and thus premchand gokaldas also came to be acquitted. in the course of his judgment the learned magistrate held that the managing director was only a nominee of the ..... these facts held that the expenses incurred in the civil litigation against the banking concern were of revenue nature and were entitled to deduction under section 10 of the indian income-tax act, 1922. as regards expenses incurred in connection with the criminal case the allahabad high court held that in a company, which is formed for business, all its assets ..... that the amount spent by the assessee-firm, which was a registered partnership firm for the defence of one of its partners in a criminal case for alleged contravention of the provisions of the foreign exchange regulation act, 1947, was not deductible under section 10(2)(xv) of the indian income-tax act, 1922, and the fact that the acquittal of the partner was .....

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Jul 24 1973 (SC)

Municipal Council, Bhopal Vs. Sindhi Sahiti Multipurpose Transport Co- ...

Court : Supreme Court of India

Decided on : Jul-24-1973

Reported in : AIR1973SC2420; 1974MPLJ362(SC); (1973)2SCC478; [1974]1SCR274

..... up in a conspicuous part thereof.explanation : a cart stand shall be for the purposes of this act includes a stand for carriages including motor vehicles within the meaning of the indian motor vehicles act, 1914 and animals.270-c. where a municipal council has provided a public landing place, halting place ..... as halting places. such a power must be specifically given. compare this section with sections 270-b and 270-c of the madras district municipalities act, 1920, which read as follows :270-b. (1) the municipal council may construct or provide and maintain public landing places, halting places and ..... for any purpose. it deals with levy of fees for permissions which are required to be taken for various purposes under other sections of the act. section 187(3) which deals with permission to erect, alter, add to or reconstruct buildings and section 194 which deals with permission to ..... case. the relevant portion of that section reads :the council may charge such fee as may be prescribed... for any permission granted under this act... for the temporary occupation of... any land... belonging to the council.the section itself does not enable the municipal council to require that permission ..... for-(1)...(7) public, health, safety, nuisance and sanitation-(f) prohibiting or regulating with a view to sanitation or the prevention of disease, any act which occasions or which is likely to occasion a public nuisance and for the prohibition or regulation of which no provision is made under this heading; .....

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Nov 16 1973 (HC)

Gopi Krishan Khanna and ors. Vs. Kailash Wati and ors.

Court : Delhi

Decided on : Nov-16-1973

Reported in : AIR1975Delhi38

..... civil proceeding which was instituted or commenced in any court before the commencement of this act unless such appeal satisfies the provisions of that clause as amended by this act,'7. mr. vohra, learned counsel for the petitioners contended that suit no. 259/1949 for dissolution of partnership and rendition of -accounts -wag instituted before the commencement of the constitution and the ..... day. the federal court was authorised in addition to the jurisdiction conferred on it by the government of india act 1935, and the federal court (enlargement of jurisdiction) act no. i of 1948 to have the same jurisdiction to entertain and dispose of indian appeals and petitions as his majesty in council has by virtue of his majesty's prerogative or otherwise, ..... before the appointed day were to stand transferred to the federal court and to be disposed of by it in the exercise of the jurisdiction conferred on it by this act. 5. on 26th january, 1950, the constitution of india came ..... immediately before the appointed day. all proceedings in respect of any indian appeals pending be fore his majesty in council immediately .....

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