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Judgment Search Results Home > Cases Phrase: indian partnership act Year: 1977 Page 1 of about 122 results (0.059 seconds)

Jul 28 1977 (SC)

Vasantrao Alias Baburao and anr. Vs. Shyamrao and ors.

Court : Supreme Court of India

Decided on : Jul-28-1977

Reported in : AIR1977SC2021; [1977]47CompCas666(SC); (1977)4SCC9; [1978]1SCR218; 1977(9)LC499(SC)

..... can only wound up by the court. admittedly this is not a case of volume winding up or winding up subject to the supervision of the chapter vi of the indian partnership act, 1932 also contains persons for the dissolution of a firm and its winding up on dissolution the argument for the appellants is that the special provisions of x of the ..... not relevant for the present purpose. it is clear that provisions for winding up of the affairs of a firm which vi of the indian partnership act contains besides provision-, dissolution of partnership are left untouched by section 59 companies a the cases cited in support of the respective contentions of the parties are not really on the point under consideration except the ..... to entertain some of the claims made in the suit, because section 590 of the companies act makes it clear that part x of the does not affect the operation of the indian partnership act. s 590 states:5. saving and construction of enactments conferring power to w partnership, association or company in certain cases.nothing in this part shall affect the operation of ar ..... . enactment which provides for any partnership, associatic or company being wound up, or being wound up as a cor .....

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Aug 10 1977 (HC)

M.C. Manickam Vs. V.Sm. Sivalingam Chettiar and ors.

Court : Chennai

Decided on : Aug-10-1977

Reported in : AIR1977Mad324

..... accounts, the relevant date for determining the exchange rate s the date of winding up of the firm as contemplated in s. 46 of the indian partnership act. it is stated that only when the commissioner determines the rights of parties winding up terminated and therefore that is the relevant date. in this ..... case of the second defendant had been that there had been a final settlement of account even in 1948 and that therefore the suit for dissolution of partnership and taking of accounts did not lie. this case of the second defendant was, however, not accepted by the court while passing the preliminary decree. ..... circumstances of the present case are almost similar to those in the reported case. here also it is the admitted fact that the business of the partnership firm had been closed in 1948 and by that time all the assets had been realised. in the accounts the amounts due to the respective partners ..... parties. it is impossible to accept any date earlier than 6th december, 1920, because the winding up was not completed, and not until after the partnership assets are all realised, and converted into money can the share of a partner be settled: vide lindley p. 427.'i am quite clear that the ..... deceased adopted son. the second defendant sivalingam chetti had a 5 anna share in the said firm.2. the plaintiff's suit for dissolution of the partnership and for taking of accounts was filed on 29-6-1950. the second defendant raised various contentions, one such contention being that the accounts of .....

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Mar 31 1977 (HC)

Nagaland Liquor Stores Vs. Commissioner of Income-tax

Court : Guwahati

Decided on : Mar-31-1977

..... the power to enter into contract on behalf of the firm which was invalid in law. he was also of the view that clause 9 of the partnership deed militated against the provisions of the indian partnership act, 1932, but did not specify which particular provision had been violated. there was yet another reason given by the cit which without any further consideration or ..... in so far as it is prejudicial to the interest of revenue '. the possibility of prejudice to revenue arises by reason of there being a lesser rate for a partnership within the meaning of the indian partnership act, than for a mere association of persons (aop), but this possibility will not justify an approach, seeking to find some loop-hole or other in the ..... which we find is substantially one of following what the cit had said, we may set out the principles pertaining to partnership generally and analyse the relevant portions of the partnership deed in question.11. as defined under the indian partnership act, 1932, a partnership is a relation between partners who have agreed to share the profit of the business carried on by all or any ..... any need for severing any portion from the rest. there was a valid partnership which came into existence; we have been unable to find any other provision in the indian partnership act or even a general principle of law relating to partnerships which has been violated such as to render the said partnership invalid. none has been specifically pointed out by the commissioner or the appellate .....

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Oct 04 1977 (HC)

Juggilal Kamlapat Bankers and anr. Vs. Wealth-tax Officer, C-ward and ...

Court : Allahabad

Decided on : Oct-04-1977

Reported in : [1979]116ITR646(All)

..... petitioner-1 firm, it (petitioner-1 firm) could be regarded as being in charge thereof. as petitioner-2 was a partner of petitioner-1 firm, under section 18 of the indian partnership act he could be regarded as an agent of petitioner-1 firm and the valuation officer could issue notices to him requiring him to afford facility for inspection of those buildings ..... aforesaid enunciation of the legal position, it is clear that though a partner has no exclusive right over any of the partnership properties, he has an interest in them. that such interest is transferable is evident from section 29 of the indian partnership act, 1932, the relevant portions of which read :'29. (1) a transfer by a partner of his interest in the firm ..... , cannot be regarded as a part of his net wealth.17. as pointed out in cwt v. mela ram : [1972]84itr323(delhi) , under the act there are only two units of assessment, an individual and a huf. partnership firm as such is not a unit of assessment and, therefore, for the purpose of arriving at the net wealth of a partner he ..... of its assets and of net wealth subject to levy of wealth-tax under the charging section. there is no provision in the act which excludes expressly or by necessary implication the interest of a huf in a partnership firm from the ambit of such family's net wealth which is subject to wealth-tax.23. thus, we are unable to accept .....

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Feb 10 1977 (HC)

Ganesha Narayana Hegde and ors. Vs. Commercial Tax Officer

Court : Karnataka

Decided on : Feb-10-1977

Reported in : (1978)7CTR(Kar)79; 1976(1)KarLJ233; [1977]40STC400(Kar)

..... syndicate, that for the purpose of realisation of sales tax, although the firm could be treated a legal entity, none-the-less, the provisions of the indian partnership act regulating the relationship between the partners and their liability to third parties, have, except in so far as those provisions are expressly, or by necessary implication incorporated ..... applies to a dissolved firm and manifestly the present firm is not a dissolved firm. similar reference was made on s. 25 of the indian partnership act. but in view of the aforesaid observation of the supreme court, that section will not be helpful, in so far as, it could not ..... firm that may be found in their possession. any principle of the indian partnership act making a partner personally liable for the debts of a firm will not be incorporated in the provisions of the act. for that some express provision in the act itself could be availed of by the department. no such provision can be ..... the state of punjab (supra), the view taken by the learned magistrate cannot be sustained. only such a provision contained in the partnership act will be amenable to the proceeding, if the said provision can be construed to be incorporated in the provisions of the ..... arises, these three petitions can be disposed of by a single order. 3. the uncontroverted facts are, that m/s vigneshwara company is a registered partnership firm, and it is a dealer as much to pay the sales tax. the petitioners as well as some of the respondents are the partners of .....

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Feb 10 1977 (HC)

Ganesha Narayana Hegde Doddamane Vs. Commercial Tax Officer and anr.

Court : Karnataka

Decided on : Feb-10-1977

..... ]2scr457 that for the purpose of realisation of sales tax, although the firm could be treated a legal entity, none the less, the provisions of the indian partnership act regulating the relationship between the partners and their liability to third parties have, except in so far as those provisions are expressly or by necessary implication incorporated ..... section applies to a dissolved firm and manifestly the present firm is not a dissolved firm. similar reference was made to section 25 of the indian partnership act. but, in view of the aforesaid observation of the supreme court, that section will not helpful, in so far as, it could not ..... firm that may be found in their possession. any principle of the indian partnership act making a partner personally liable for the debts of a firm will not be incorporated in provisions of the act. for that some express provision in the act itself could be availed of by the department. no such provision can be ..... of punjab : [1966]2scr457 , the view taken by the learned magistrate cannot be sustained. only such a provision contained in the partnership act will be amenable to the proceeding, if the said provision can be construed to be incorporated in the provisions of the ..... arises, these three petitions can be disposed of by a single order. 3. the uncontroverted facts are that m/s. vigneshwara company is a registered partnership firm, and it is a dealer as such to pay the sales tax. the petitioners as well as some of the respondents are the partners of .....

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May 24 1977 (HC)

Nandlal Sohanlal, Jullundur Vs. the Commissioner of Income-tax, Patial ...

Court : Punjab and Haryana

Decided on : May-24-1977

Reported in : AIR1977P& H320; [1977]110ITR170(P& H)

..... both for the meaning of the 'dissolution of a firm' as against 'a change in the constitution of a firm,' the true key is provided by the indian partnership act whilst the indian income-tax act is totally silent thereon. it is with that clue that one has to first determine on the specific matrix of facts in each case, whether a firm stands ..... new association of individuals and a firm name comes into existence which does not have its identity as a person under the law incorporated in the indian partnership act. 8. this peculiar situation available under the indian partnership act led to evasion of tax under the various taxing statutes for, under most of these statutes the liability to pay tax accrues against a definite person ..... whether incorporated or not, (vi) a local authority, and (vii) every artificial juridical person not falling within any of the preceding sub-clauses. apparently, the notion available under the indian partnership act about a partnership being an association of individuals and a firm being a collective name of those individuals who constitute the firm has been modified and a firm has been equaled with ..... from defining dissolution under section 39, the various modes of effecting the same are then laid out in sections 40 to 44. it appears to be plain that the indian partnership act clearly recognises the sharp distinction between a firm which is merely reconstituted and one which is dissolved. 39. it is well settled on high authority that when the legislature in .....

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Aug 10 1977 (HC)

The Additional Commissioner of Income-tax, (Andhra Pradesh, Hyderabad) ...

Court : Andhra Pradesh

Decided on : Aug-10-1977

Reported in : [1977]110ITR468(AP)

..... committee of the privy council observed about the 'legal personality' thus in bhagwanji v. alembic chemical works, . sir john beaumont observed :'it is true that the indian partnership act goes further than the english partnership act, 1890, in recognising that a firm may possess a personality distinct from the persons constituting it; the law in india in that respect being more in accordance with ..... its business. it is true that the indian partnership act goes further than the english partnership act, 1890 in recognising that a firm may possess a personality distinct from the persons constituting it, the law in india in that respect being more in accordance ..... bhagavanji v. alembic works, air p. c. 100. in para 10 at p. 101 of the report, it was observed:'before the board it was argued that under the indian partnership act, 1932, a firm is recognised as an entity apart from the persons constituting it, and that the entity continues so long as the firm exists and continues to carry on ..... and the very object with which it was enacted will be frustrated.93. unless the context otherwise requires, the act provides in the definition clause by s. 2 (230 that 'firm', 'partner' and 'partnership' have the meanings respectively assigned to them in the indian partnership act, 1932, but the expression 'partner' shall also include 'any person who being a minor, has been admitted to .....

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Nov 03 1977 (HC)

Commissioner of Income-tax, Bombay City-ii, Bombay Vs. H.R. Aslot

Court : Mumbai

Decided on : Nov-03-1977

Reported in : [1978]115ITR255(Bom)

..... retirement, it is necessary to point out that the two concepts, viz., retirement of a partner and dissolution of partnership, are separately dealt with by the provisions of the indian partnership act. the subject of dissolution of a firm is dealt with under the partnership act in chapter vi while the subject of retirement of a partner, which a part of the chapter dealing with 'incoming ..... to be done by the parties in dispute or any of them or in relation to any other matters whatsoever touching the partnership affairs, that dispute shall be referred to arbitration in accordance with the provisions of the indian arbitration act. each partner was to appoint an arbitrator for the arbitration. there was some dispute among the partners in the year 1959 and ..... , is not to be found as a part of the provisions of section 12b of the indian income-tax act, 1922, at the relevant time. once it is held that there is no distinction between a retirement of a partner and dissolution of a partnership firm, the absence of otherwise of the provision analogous to section 47(ii) would be of no significance ..... the disputes were referred to the arbitration of one manilal p. kapadia, a solicitor. the terms of reference of arbitration to kapadia included all matters relating to the dissolution of the partnership and the winding .....

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Mar 31 1977 (HC)

Nagaland Liquor Stores Vs. Commissioner of Income-tax, Assam.

Court : Guwahati

Decided on : Mar-31-1977

..... the power to enter into contract on behalf of the firm which was invalid in law. he was also of the view that cl. 9 of the partnership deed militated against the provisions of the indian partnership act, 1932, but did not specify which particular provision had been violated. there was yet another reason given by the cit which without any further consideration or ..... which we find is substantially one of following what the cit had said, we may set out the principles pertaining to partnership generally and analyse the relevant portions of the partnership deed in question.as defined under the indian partnership act, 1932, a partnership is a relation between partners who have agreed to share the profit of the business carried on by all or any of ..... "erroneous in so far as it is prejudicial to the interest of revenue". the possibility of prejudice to revenue arises by reason of there being a lesser rate for a partnership within the meaning of the indian partnership act, than for a mere association of person (aop). but this possibility will not justify an approach seeking to find some loophole or other in the ..... any need for severing any portion from the rest. there was a valid partnership which came into existence; we have been unable to find any other provision in the indian partnership act or even a general principle of law relating to partnerships which has been violated such as to render the said partnership invalid. none has been specifically pointed out by the commissioner or the .....

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