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Judgment Search Results Home > Cases Phrase: indian partnership act Year: 1974 Page 1 of about 136 results (0.170 seconds)

Sep 16 1974 (HC)

Dahi Laxmi Dal Factory Vs. Income-tax Officer and anr.

Court : Allahabad

Decided on : Sep-16-1974

Reported in : [1976]103ITR517(All)

..... firm ' and how it is different from a firm which is newly constituted to determine the scope of sections 187 and 188 of the act.6. under the indian partnership act a firm can be said to be reconstituted when a new partner is added or ah existing partner retires or is expelled without dissolving the ..... firm. chapter v of the indian partnership act deals with the incoming and outgoing of partners. section 31 of that chapter provides :' subject to contract between the partners and to the provisions of ..... still be a case of reconstitution. but this provision does not change the concept of reconstitution of a firm as understood in the indian partnership act nor does it obliterate the distinction between reconstitution and dissolution. when it talks of a partner ceasing to be a partner it refers to section ..... 32 of the indian partnership act and when it talks of admission of a new partner it refers to section 31 of the indian partnership act. it may be restated here that by incoming and outgoing of a partner the firm is not ..... position that emerges is that section 187 applies only where a firm is reconstituted in accordance with sections 31 and 32 of the indian partnership act, namely, when a new partner is taken or an existing partner retires with the consent of all the partners or without their consent if the .....

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Jul 26 1974 (HC)

Jubedabi Kom and ors. Vs. Jainabi Kom and ors.

Court : Karnataka

Decided on : Jul-26-1974

Reported in : AIR1975Kant7; ILR1974KAR1473; 1975(1)KarLJ66

..... though such discretion has to be exercised judicially in the light of the facts and circumstances of each case.15. mr. mandagi relied on section 13 clause (c) of the indian partnership act which provides that, subject to contract between the partners, where a partner is entitled to interest on the capital subscribed by him such interest shall be payable only out of ..... or loss it was not possible for the lower appellate court to direct the refund of the plaintiff's share of the capital. he relied on section 48 of the indian partnership act which sets out the rules to be followed in settling the accounts of a dissolved firm. under clause (b), the rules for application of the assets of the firm are ..... , satyanarayana v. appa rao. in that case the suit was filed for dissolution and rendition of accounts of a partnership in motor transport. the partnership was held to be illegal and void ab initio as contravening the provisions of the madras motor vehicles act. it was held that the plaintiff's suit to recover the moneyadvanced by way of capital must also fail ..... is properly chargeable against the accounting defendant even though he has not acted fraudulently. the earlier decision , was distinguished on the ground that in that case the suit was for dissolution and winding up of a going partnership. in air 1948 mad 231, the suit was for dissolution of a partnership and for accounts. the decision in , was followed and it was held .....

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Sep 16 1974 (HC)

Commissioner of Income-tax Vs. Kunj Behari Shyam Lal

Court : Allahabad

Decided on : Sep-16-1974

Reported in : [1977]109ITR154(All)

..... dissolution on the death of a partner, the firm stood dissolved by virtue of clause (c) of section 42 of the indian partnership act which provides that subject to the contract between the partners a firm is dissolved upon the death of a partner.4. it is true that whether a ..... stipulation to the effect that the firm will not dissolve on the death of one of the partners and by virtue of section 42(c) of the indian partnership act the firm stood dissolved and, as such, the assessee-firm which took over the business after the dissolution of the erstwhile firm could not be said ..... year in question. in the instant case one of the partners of the firm died on 22nd march, 1964. the remaining partners drew up a new partnership deed on 23rd march, 1964, and then carried on the business of the erstwhile firm. in my opinion, the case is squarely covered by section 187 ..... in holding that the provisions of section 187 of the income-tax act were not applicable and that there were two separate firms during the previous year liable to be assessed separately ?'3. now, in view of the fact that the partnership of the erstwhile firm did not contain a provision saving the firm from ..... of the income-tax act, 1961.2. there was a firm of the name and style of kunj behari shyamlal which carried on the business in yarn at sitapur. during the previous year relevant to the assessment year 1965-66, one of the partners died on 22nd march, 1964. another partnership deed was drawn up .....

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May 01 1974 (SC)

Saligram Ruplal Khanna and anr. Vs. Kanwar Rajnath

Court : Supreme Court of India

Decided on : May-01-1974

Reported in : AIR1974SC1094; (1974)2SCC642; [1975]1SCR358

..... up the affairs of samco and to complete transaction of arbitration proceedings which had been begun but remained unfinished at the time of dissolution. according to section 47 of the indian partnership act, after the dissolution of a firm the authority of each partner to bind the firm, and the other mutual rights and obligations of the partners, continue notwithstanding the dissolution, so ..... . no agreement between the partners to keep the firm in existence after the expiry of the fixed term of five years has been proved. according to section 42 of the indian partnership act, subject to contract between the partners a firm is dissolved--(a) if constituted for a fixed term, by the expiry of that term; (b) if constituted to carry out one ..... acquired by the respondent as per agreement dated august 14, 1957 with the president and the subsequent presidential grant are impressed with trust in favour of the partnership under section 88 of the indian trusts act, no arguments were ultimately advanced by him on that score. mr. desai has, however, challenged the finding of the trial judge and the appellate bench that no ..... acquiring the mills and for carrying on the business thereon. the appellants were held not entitled to have the mills treated as partnership assets by invoking principles enunciated in section 88 of the indian trusts act, to which reference had been made on behalf of the appellants. the learned judge also held the appellants claim for rendition of accounts to be barred by .....

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Jun 17 1974 (HC)

A. Shanthi Nainar and Sons Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Jun-17-1974

Reported in : [1974]97ITR356(Mad)

..... firm were the hindu undivided families of the partners and that as the adult coparceners in the joint families exceeded 20 that could not be a valid partnership, as it contravened section 4 of the indian partnership act. their lordships of the supreme court expressed the view that for the purpose of finding out as to who are the partners of the firm, one ..... has only to look to the partnership deed and not to go behind it, that if the partnership deed shows that the partners have entered into a partnership in their individual capacity ..... constituted under a deed of partnership dated may 30, 1958. according to the said deed, the profits or losses are to be shared in the ratio of 13:5 between shanthi nainar and padmaraj. the firm was registered under section 26a of the indian income-tax act, 1922, for the year 1959-60, and, later, registration was renewed up to the assessment year ..... 1962-63 under section 184(7) of the act. but renewal of registration was refused by the income-tax officer on three grounds: (1) that no fresh instrument was drawn up to give effect to the changes in the nucleus of the divided family of shanthi nainar and his sons ; (2) that the partnership deed dated may 30, 1958, did not specify .....

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Jun 26 1974 (HC)

Commissioner of Income-tax Vs. T. Veeraraghavulu Chetty and Sons Co.

Court : Andhra Pradesh

Decided on : Jun-26-1974

Reported in : [1975]100ITR723(AP)

..... . commissioner of income-tax. 27. in excel productions v. commissioner of income-tax, there was a firm of five partners, which was registered under the provisions of the indian partnership act. the constitution of the firm was changed by taking infour minors also as partners. the income-tax officer assessed the income of two periods separately ; but the commissioner of ..... sri anjaneyulu, appearing for the assessee on the other hand, contended that the expressions 'firm', 'partner' and ' partnership ' have been assigned, under section 2(23) of the act, the same meanings as are respectively assigned to them under the indian partnership act. under the indian partnership act, a firm of four partners is not the same as a firm of seven partners. as seen from the ..... the scheme of the assessment of firms and the relevant provisions of the income-tax act, 1961. 14. section 2(23) gives the same meanings to the expressions ' firm ' ' partner ' and ' partnership ' as are respectively assigned to them in the indian partnership act. section 2(31) of the income-tax act, 1961, says that a ' person ' includes a firm also. section 4 of ..... the income-tax act is the charging section. income-tax has to be charged for any assessment year at the .....

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Aug 30 1974 (HC)

Jatindra Kumar Dass Vs. Dhirajlal Vrajlal Kanakia

Court : Kolkata

Decided on : Aug-30-1974

Reported in : AIR1975Cal123

..... not cite any authority to show that section 2(a) of the indian partnership act did not apply in construing section 25.28. contentions of mr. bhaskar sen appear to be of substance and i hold that this suit is maintainable against the defendant alone. ..... decision reported in : [1969]72itr617(sc) .27. mr. lahiri in reply contended that section 43 of the indian contract act did not apply in the instant case by reason of section 25 of the indian partnership act. he further contended that section 25 of the indian partnership act contemplated positive acts of the partners and not omissions which might give rise to a cause of action. he, however, could ..... such joint promisors to perform the whole of the promise.....'24. mr. sen then relied on section 25 of the indian partnership act which reads as follows:'every partner is liable, jointly with all the other partners and also severally, for all acts of the firm done while he is a partner.'25. on the basis of the above mr. sen argued that in ..... of the firm to pay rent to the plaintiff is an act within the meaning of section 25 of the indian partnership act read along with section 2(a) thereof which reads as follows:'in this act, unless there is anything repugnant in the subject or context--(a) an 'act of a firm' means any act or omission by all the partners, or by any partner or .....

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Oct 08 1974 (HC)

Afsaar HussaIn and anr. Vs. Trilokchand Premchand

Court : Orissa

Decided on : Oct-08-1974

Reported in : AIR1975Ori84

..... registered as such.7. the only question that is raised by mr. sinha in this civil revision is that the bar under section 69 of the indian partnership act operates and the plaintiffs' suit has to be dismissed. the plaint describes the plaintiffs in the following way:--'trilokchand premchand, aged 35 and 25 years ..... umedmal.4. the learned subordinate judge dismissed the suit by holding that the suit was not maintainable as it was hit by section 69 of the indian partnership act.5. upon appeal by the plaintiffs, the learned district judge by judgment dated 15th of july, 1970, framed an additional issue to the following ..... firm no. 112 of 1961 by the registrar of firms. ext. 10 is a deed of partnership. ext. 11 is a certified copy from the register of firms maintained under section 59 of the indian partnership act. therein, the firm name has been given as kesarichand umedmal and the names of the four partners ..... a suit may be filed in the name of the firm even after the dissolution provided that the cause of action arises before dissolution of partnership and the fact that one of the partners has died before the institution of the suit or even during its pendency does not affect the ..... , namely myself, kesarichand and premchand and one anandi bai (mother of these three brothers) are the four partners. we executed this partnership deed on 18th march, 1961. this is the partnership deed (ext. 10). the firm was registered. this is the certified copy of the register of firms showing that our firm is .....

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Oct 16 1974 (HC)

Abdul Rehman Haji Miya Vs. V.P. Minocha, Income-tax Officer, Ahmedabad ...

Court : Gujarat

Decided on : Oct-16-1974

Reported in : [1977]106ITR821(Guj)

..... divan c.j.1. the petitioner in this case was, prior to its dissolution on august 31, 1963, a partnership firm registered under the provisions of the indian partnership act. though the firm has been dissolved with effect from august 31, 1963, as the subject-matter of the writ petition is pending, the said firm is deemed to continue in ..... 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 settlement of accounts between the partners. it prescribes the sequence in which the various outgoings are to be applied and the residue remaining is to be ..... the machinery. each partner gets that which was his own in which he along with the other partners was a joint owner during the subsistence of the partnership and under the scheme of the partnership act when the assets are distributed among the partners at the time of dissolution, it cannot be said to amount to utilisation of the machinery in the sense ..... the money representing the value of the property. when the two partners brought in the theatres of their respective ownership into the partnership, the theatres must be deemed to have become the property of the partnership. 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 .....

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Feb 15 1974 (HC)

Rajasthan Trading Co. Vs. the Registrar of Firms and anr.

Court : Andhra Pradesh

Decided on : Feb-15-1974

Reported in : AIR1975AP232

..... . the petitioner filed notice of the change in the constitution of the firm as required under section 63(1) of the indian partnership act (hereinafter referred to as the act) in the office of the registrar of firms on 4-9-1972 the required amount towards the notice fee was also paid. but the registrar of firms returned the said ..... the constitution is as to the validity of rule 4 (2) of the andhra pradesh partnership (registration of firms) rules, 1957. 2. the aforesaid question arises in the following circumstances: the petitioner is a partnership firm named m/s rajasthan trading company, osmanganj hyderabad, registered under the indian partnership act, 1932. the firm was registered on 8th october, 1968 subsequently, there were alterations in the ..... be made therein, and the mode in which such entries are to be amended or notes made therein.' sub-rule (2) of rule 4 of andhra pradesh partnership (registration of firms) rules, 1957, framed under section 71 of the act reads:-- 'every statement, intimation or notice relating to a firm, under sections 60, 61, 62, 63(1) or 63(2) of the ..... the submission of notice or intimation under section 63(1). in the circumstances, rule 4 (2) of the andhra pradesh partnership (registration of firms) rules, 1957 is ultra vires of the powers of the state government under section 71(2) of the act. the said rule is, therefore, struck down, and the proceedings of the registrar of firms in f 2/8052 .....

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