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Judgment Search Results Home > Cases Phrase: indian partnership act Year: 1975 Page 1 of about 137 results (0.172 seconds)

Jan 24 1975 (HC)

A.D. Jayaveerapandia Nadar and Co. and ors. Vs. Income-tax Officer

Court : Chennai

Decided on : Jan-24-1975

Reported in : [1975]101ITR390(Mad)

..... company' but a 'firm', it would be relevant to note the definition of 'firm' under the act. section 2(23) of the act adopts the definition of 'firm', 'partner' and 'partnership' as defined in the indian partnership act, 1932. section 4 of the partnership act, 1932, is as follows ;' 'partnership' is the relation between persons who have agreed to share the profits of a business carried on by ..... these circumstances, to import the definition of the word 'person' occurring in section 3(42) of the general clauses act, 1897, into section 4 of the indian partnership act will, according to lawyers, english or indian, be totally repugnant to the subject of partnership law as they know and understand to be. it is in this view of the matter that it has been ..... all or any of them acting for all. persons who have entered into partnership with one another are ..... consistently held in this country that a firm as such is not entitled to enter into partnership with another firm or individuals .....

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Jan 27 1975 (HC)

Narayan Prasad Vijaivargiya Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jan-27-1975

Reported in : [1976]102ITR748(Cal)

..... fullfledged partner and given all the rights and subjected to all the liabilities of a partner. hence, according to the learned counsel, the deed goes beyond section 30 of the indian partnership act, 1932, and registration was rightly refused. learned counsel has relied on the case of commissioner of income-tax v. dwarkadas khetan & co. he has also referred to the cases in ..... was refused on the ground that the clause relating to the share of losses by the minor contravened section 30(3) of the indian partnership act, 1932. it was held by the kerala high court that section 30(3) of the indian partnership act only prohibited the imposing of any personal liability on the minors; all that it did, in effect, was to provide that the ..... messrs. hariprasad madanlal vijaivargiya of akra phatak, p.o., bartala, district 24-parganas (as also of akra station, p.o. batanagar, dist. 24-parganas) registered under the indian partnership act, 1932, with the registrar of firms, in july, 1957, the registration number being 32347 (memo. no. 34707) and (7) shri nanda kishore vijaivargiya, a minor son of late madanlal vijaivargiya, ..... make him a full partner. in our view the deed cannot be said to go beyond the provisions of section 30 of the indian partnership act, 1932, and, therefore, it cannot be regarded as invalid. as, in our opinion, the partnership deed dated november 9, 1959, is a valid document refusal of its registration cannot be uphold. in the aforesaid view of the matter .....

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May 19 1975 (HC)

Mahabir Prasad Kishanlal and Co. Vs. Commissioner of Income-tax

Court : Guwahati

Decided on : May-19-1975

..... is not a genuine firm in existence the income-tax officer is required to consider the validity of the deed of partnership. if such a deed of partnership is invalid in law offending any of the provisions of the indian contract act or the indian partnership act, 1932, the income-tax officer may legally hold that the registration was obtained without there being a firm in existence ..... partnership. it is thus found that the agreement of partnership in question is contrary to the relevant provisions of the indian contract act and the indian partnership act itself. that being so, the partnership deed is invalid, and, therefore, the income-tax officer in exercising his power for cancellation is justified ..... behalf of the minors. it is not a caseof the partners agreeing to admit some minors to the benefits of the partnership as provided under sub-section (1) of section 30 of the indian partnership act. the partnership in terms has sought to make the minors also full fledged partners and it has been stated that their respective fathers have agreed to enter into the ..... and such registration is liable to be cancelled in exercise of powers under rule 6b.12. section 4 of the indian partnership act defines 'partnership' as the relation between persons who have agreed to share the profits of a business carried on by all or any of them .....

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Jun 11 1975 (HC)

Asstt. Collr. of Cus. (Tech. Cus. Div.) Vs. Bhimraj Banshidhar

Court : Kolkata

Decided on : Jun-11-1975

Reported in : 1999(110)ELT524(Cal)

..... section 112.6. mr. g.p. kar, learned counsel for the customs authorities has urged before us that both the petitioners in the trial court were partnership firms registered under the indian partnership act. these partnership firms were not legal entities; they were not citizens of india; and no fundamental rights enjoyed by them could be affected. the application, therefore, under ..... article 226 of the constitution by the two partnership firms is wholly misconceived, according to mr. kar and is not maintainable.7. a preliminary objection of this nature ..... the purchase price was advanced by orient finance corporation and that was why the hire purchase of agreement was between the corporation and arora. the relationship between the two partnership firms, however, does not affect the points at issue in this appeal.3. the petitioners allege that in july 1967, they came to know that the car ..... constitution, there were two petitioners before p.k. banerjee, j., namely, -(1) messrs bhimraj banshidhar and (2) messrs orient finance corporation. both the petitioners were registered partnership firm. messrs bhimraj banshidhar purchased a hindusthan ambassador car bearing registration number wbb 4379. the car was also registered in the name of bhimraj ban-shidar. on february 14, .....

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Jul 08 1975 (HC)

Rajendra Trading Co. Vs. Commissioner of Income-tax, Bombay City Ii

Court : Mumbai

Decided on : Jul-08-1975

Reported in : [1976]104ITR39(Bom)

..... him as a partner; but it does not render a minor a competent and full partner. for that purpose, the law of partnership must be considered apart from the definition in the income-tax act. 10. section 30 of the indian partnership act clearly lays down that a minor cannot become a partner, though with the consent of the adult partners he may be admitted ..... to the benefits of a partnership. any decided monument which goes beyond this section cannot be regard as valid for the purpose of registration ..... decision of the said arbitrator shall be final and binding. the arbitration shall be governed by the provision of the indian arbitration act and of statutory modifications thereof.' 18. at the outset it may be observed that in the entire indenture of partnership there is neither a recital nor a term to the effect that the minor, rajendrakumar, was only admitted to the ..... irrelevant. his submission was that the entry made by registering the firm under the indian partner ship act indicating that the minor, rajendrakumar, was admitted to the benefits of the partnership was irrelevant. according to his submission what was stated in the deed of rectification was equally irrelevant. 4. 'partnership' is the relation between persons who have agreed to share the profits of a .....

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Sep 18 1975 (HC)

Addl. Commissioner of Income-tax, Gujarat Vs. Harjivandas Hathibhai

Court : Gujarat

Decided on : Sep-18-1975

Reported in : [1977]108ITR517(Guj)

..... correct approach which the tribunal should have adopted was whether there being no specific agreement to the contrary as required by section 42(c) of the indian partnership act, from the facts and circumstances of the case an inference can be drawn that there must have been an agreement between the surviving partners and the ..... of the partners, the firm should not stand dissolved. mr. kaji is right when he says that the provisions of section 42(c) of the indian partnership act do not require that there must be an agreement in writing between the partners that, on the death of one of the partners, the firm will ..... or one or more new partners being admitted. it deals with cases of retirement of partners and introduction of new partners but the firm under the indian partnership act would continue in such a case. therefore, all that sub-section (2) of section 187 points out is that with the retirement of one or ..... and 'dissolution of a firm' are to be noticed and the two concepts are altogether distinct. he has pointed out that under section 31 of the indian partnership act one mode of reconstitution of a firm, namely, by the introduction of a new partner with the consent of the existing partners unless there is a ..... of which r was a partner stood dissolved on the death of r in view of the provisions of section 42(c) of the indian partnership act, that a completely new partnership came into being on june 9, 1966, and, therefore, it was a case of succession of one firm by another to which .....

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Jul 30 1975 (HC)

Kaithari Lungi Stores Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Jul-30-1975

Reported in : [1976]104ITR160(Mad)

..... high court, but we are unable to agree with the majority judgment that section 187 appliesonly where a firm is reconstituted in accordance with sections 31 and 32 of the indian partnership act, namely, when a partner is taken or an existing partner retired with the consent oi all the partners. the learned judges have not referred to the provisions in sections 33 ..... , 34 and 35 of the indian partnership act. further, section 2(23) of the income-tax act which defined 'firm', 'partner' and 'partnership' as having the meanings respectively assigned to them in the partnership act, 1932, is to he applied in understanding the provision only if the context does not otherwise require. section ..... arise in the following cases : by admission, retirement expulsion, insolvency or death of one or more partners, subject to the conditions referred to in sections 31 to 35 of the partnership act. in the case of death of a partner, there shall be a contract, express or implied, between the partners that the firm shall not be dissolved by the death of ..... its members and it is merely a compendious name to describe a collection of persons who are partners. but the mercantile usage recognises the firm as a distinct person. the partnership act struck a medial note as between these two extreme propositions and recognised the continued existence of the firm in spite of the change in the constitution. the income-tax .....

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Nov 11 1975 (HC)

A. Subbiah Nadar Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Nov-11-1975

Reported in : [1976]104ITR564(Mad)

..... does not appear to cloud or destroy the identity of the partners whose rights and liabilities vis-a-vis each other are governed by the terms of the partnership and the provisions of the indian partnership act. the members of a firm, from a certain point of view, therefore, remain as co-owners in a limited sense and subject to the terms of the ..... : in which two or more persons combine their efforts and conjointly apply the same to a commercial or business activity with a view to make profit. section 4 of the indian partnership act makes this explicit and says that a ' partnership' is the relation between persons who have agreed to share the profits of a business carried on by all or any of them ..... or interest in the property, though it is true b, by reason of the transaction, becomes entitled to certain rights which are regulated by the terms of the agreement of partnership, as well as the provisions of the indian partnership act.'7. the supreme court also in commissioner of income-tax v. dewas cine corporation, [1960) 68 itr 240 ., with reference to a ..... partnership formed for the first time and one of the members of the partnership bringing into the firm assets held by him, held that there was no transfer and that the property became the .....

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Sep 24 1975 (HC)

Gur Dayal Prasad Vs. L. Raghunath Prasad and ors.

Court : Allahabad

Decided on : Sep-24-1975

Reported in : AIR1976All141

..... damages against another partner. the liability of a partner is to the firm and not to one particular partner. we are doubtful whether in face of section 13 of the indian partnership act, a suit by some of the partners against some other partners is at all maintainable. as at present advised, we do not express any firm opinion on this question, but ..... indemnify the firm for any loss caused to it by his wilful neglect in the conduct of the business of the firm' 19. in view of section 13 of the indian partnership act, either the firm shall indemnify a partner in respect of the payments made and liabilities incurred by him or, alternatively, a partner shall indemnify the firm for any loss caused ..... , such contracts may provide that a partner shall not carry on any business other than that of the firm while he is a partner.' 17. section 11 of the indian partnership act makes it obvious that the mutual rights and duties of the partners of the firm are to be determined toy contract between the partners, of course, subject to the provisions ..... no application to the facts of the present case and the transaction of the business of the partnership will toe governed by the indian partnership act or by the partnership deed.18. there is yet another aspect from which the case can be considered. section 13 of the indian partnership act deals with the rights and liabilities of the partners. amongst others, section 13 provides:'13. subject to .....

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Oct 10 1975 (SC)

Hind Overseas Private Limited Vs. Raghunath Prasad Jhunjhunwalla and a ...

Court : Supreme Court of India

Decided on : Oct-10-1975

Reported in : AIR1976SC565; [1976]46CompCas91(SC); (1976)3SCC259; [1976]2SCR226

..... also born out of recognition of equitable considerations generally. this is particularly so as section 35(6) of the english partnership act, 1890 also contains, inter alia, an analogous provision for the dissolution of partnership by the court. section 44(g) of the indian partnership act also contains the words 'just and equitable'. 36. section 433(f) under which this application has been made has to ..... be read with section 443(2) of the act. under the latter provision where the petition is presented on the ground that ..... mr. sen on behalf of the respondents, on the facts and circumstances disclosed in the petition, dissolution would have been ordered by the court under section 44(g) of the partnership act. a case for winding up has been, therefore, prima facie, made out by the respondents on these allegations. it is submitted that the learned company judge committed an error of ..... be carried on, i think the company should not be allowed to continue. i have treated it as a partnership and under the partnership act of course the application for a dissolution would take the form of an action; but this is not a partnership strictly, it is not a case in which it can be dissolved by action. but ought not precisely the .....

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