Court : Mumbai
Decided on : Apr-10-1981
Reported in : (1982)27CTR(Bom)248; 140ITR966(Bom)
..... ii) before the end of the previous year in any other case; (b) where the firm is registered under the indian partnership act, 1932 (ix of 1932), or where the deed of partnership is registered under the indian registration act, 1908 (xvi of 1908), before the end of the previous year of the firm, and (c) where the ..... 1953, and for any year of assessment subsequent thereto, be made - (a) where the firm is not registered under the indian partnership act, 1932 (ix of 1932), or where the deed of partnership is not registered under the indian registration act, 1908 (xvi of 1908), and the application for registration is being made for the first time under the ..... filed before the ito on november 6, 1958. it is also necessary to note that the firm had applied for registration under the indian partnership act, with the registrar of firms on october 24, 1958, and the registrar of firms, after necessary enquiries, granted registration on december 31 ..... the firm, and, therefore, it was time barred under r. 2(a)(i) of the indian i.t. rules, 1922. on these facts, the high court held that reading ss. 58 and 59 of the indian partnership act together, a firm cannot be said to be registered when the statement prescribed by s. 58 and ..... date, the firm delivered to the registrar of firms an application in the prescribed form under s. 58(1) of the indian partnership act. the papers were, however, returned by the registrar for due compliance with the formalities and the firm was subsequently registered under the .....Tag this Judgment!
Court : Punjab and Haryana
Decided on : Mar-17-1981
Reported in : (1981)25CTR(P& H)94; 140ITR490(P& H)
..... partnership deed, inter alia, provided for the ten adult partners' respective shares in the firm's profits and for the four minors' shares in ..... to the benefits of the partnership. out of the said four minors, one, namely, ghansham gupta, attained majority on april 25, 1965, that is, during the relevant previous year and he did not, by october 25, 1965, give any public notice of termination of his connection with the partnership as contemplated under section 30(5) of the indian partnership act, 1932. clause (6) of the ..... of no help to the case of the revenue. in the said case, the question involved was regarding notice under section 33b of the indian i.t. act, 1922, which is equivalent to section 263 of the act, whereas no such question is involved in the present case. in the above-said case, it was held (headnote) :'unlike section 34, section 33b of ..... the minors, as per the definition of the term ' partner ' in section 2(23) of the act), as per the ratio provided under clause (6) of the partnership deed dated october 25, 1964.5. the addl. commissioner initiated proceedings under section 263(1) of the act, and vide his order dated october 13, 1972, held that the registration granted to the assessee for .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Apr-07-1981
Reported in : AIR1981SC1047; (1981)22CTR(SC)157; 129ITR295(SC); 1981(1)SCALE949; (1981)2SCC693; 3SCR387; 1981(13)LC873(SC)
..... said that the definition of business given in section 45 of the partnership act, 1890 (53 & 54 vict. clause 39) was an extended definition intended for the purpose of that act only. section 45 of that act says:the expression business includes every trade, occupation, or profession.17. section 2(b) of the indian partnership act, 1932 also defines 'business' thus :'business' includes every trade, occupation ..... 422 in 1963. on may 31, 1965, the london solicitors sent a cable to the appellants which e read as follows :dignior calcuttawe act for farewerke hoechst this country and understand that you act india stop in connection acting infringement indian tolbutamide patent have been instructed to retain blanco white as counsel to attend hearings calcutta and bombay stop imperative to know dates of ..... 3 i.t.r. 395, sir george rankin speaking for the judicial committee of the privy council while construing the expression 'business connection' in section 42(1) of the indian income tax act 1922 observed:the phrase 'business connection' is different from, though doubtless not unrelated to, the word 'business' of which there is a definition in the ..... to the london solicitors. it is further seen that mr. blanco white appeared before the high court alongwith the indian counsel engaged by the appellants, though with the leave of the court granted presumably under section 32 of the advocates act 1961. we are also of the view that there must have been discussion between the appellants and mr. blanco .....Tag this Judgment!
Court : Guwahati
Decided on : Jun-05-1981
..... follows: 'whether, on the facts and in the circumstances of the case and on a proper construction of section 4 of the indian partnership act, 1932, section 2(23) and section 64 of the income-tax act, 1961, the tribunal was justified in holding the view that the share of profits arising in the hands of the wife of ..... spouse in a firm carrying on a business in which such individual is a partner.'3. it is very clear that section 64 of the i.t. act speaks about the individual and there appears no scope for further interpretation. the tribunal by the impugned order held that the above question was self-evident and need ..... spouse of such individual. section 64(1)(i) of the i.t. act, 1961, runs as follows :'64. (1) in computing the total income of any individual, there shall be included all such income as arises directly or indirectly--(i) ..... a different point on facts arose in that case, in considering the present position of the case at hand, we feel that section 64 of the i.t. act, 1961, is very clear and needs no interpretation as to whether in computing the total income of any individual (an income) arises directly or indirectly to the ..... firm, m/s. asiatic trading co., was not includible in the assessment of the assessee under section 64(1)(i) of the income-tax act, 1961, and in dismissing the appeal filed by the department on that basis ?'2. the tribunal found that under section 64 of the i.t .....Tag this Judgment!
Court : Delhi
Decided on : May-15-1981
Reported in : (1981)25CTR(Del)207; ILR1981Delhi40; 136ITR379(Delhi)
..... has no legal personality at all apart from the partners. under that common law doctrine even an ordinary change in constitution which would normally fall within chapter v of the indian partnership act would result in a case of succession. in fact it will be appropriate to notice that this was exactly the difficulty that arise in the case of a. w. ..... content ourselves with broadly summarizing our reasons as briefly as possible. the question raised has to be considered in three stages. the first is to consider the position under the indian partnership act. it is well known (and it is unnecessary to cite authorities for the proposition) that in general law a firm is not a juristic entity but is only a compendious ..... : 110itr468(ap) . naturally learned counsel on both sides cited all these decisions before us and also referred various earlier decisions and provisions of the indian partnership act, the indian income-tax 1922 as well as the income-tax act, 1961 which have been referred to and discussed in these various decisions. after having carefully gone through all these decisions we have come to the ..... a reference to the dissolution of a firm in section 44 of the act as it than stood. it may also perhaps be of some significance that when the indian income-tax act, 1922 was enacted the law relating to partnership was contained in indian partnership act and that it was only subsequently that the indian partnership act, 1930 came into force adopting, as we have already pointed out. .....Tag this Judgment!
Court : Allahabad
Decided on : Nov-14-1981
Reported in : AIR1981All184
..... is not right to say that it was contingent contract. it is also a contract of partnership, but its terms show that the partnership would commence when the tender was accepted and the work was carried on pursuant thereto. section 4 of the indian partnership act, 1932 defines partnership as 'the relation between persons who have agreed to share the profits of a business carried on ..... devendra nagar dam and the amount in question was advanced in pursuance of that partnership. according to the learned counsel, that being so, the suit must fail, for the partnership was unregistered and such a suit as the present one would be barred by section 69 of the indian partnership act, 1932.6. mr. sankatha rai, learned counsel for the appellant, also invited my ..... definition is that the partnership is a relation between persons. that relation arises from prior ..... by all or any of them acting for all.'the first thing to be noticed in this .....Tag this Judgment!
Court : Delhi
Decided on : May-15-1981
Reported in : ILR1982Delhi657
..... individual' (s. 2(31)(i)), or a body of individuals (s. 2(31)(v)).'firm', 'partner' and 'partnership' have been defined in s. 2(23), to have the same meaning as assigned to them in the indian partnership act, 1932. 19. sections 14 and 15 of the indian partnership act, 1932, contemplate the owning of property by a firm. this includes the property originally brought in the ..... was comprised of two brothers as partners and had purchased a house in 1960 which it sold in 1966, opined (p. 592) : 'in view of the specific provisions of the partnership act relating to the property of a firm and the judicial pronouncements on the matter, there cannot be any doubt that a firm is legally competent to own or hold property ..... deemed to be the occupation of the owner-firm. 17. however, on a close examination, taking into consideration the scheme and other relevant provisions of the i.t. act, 1961, and the partnership act, we feel that the expression 'occupation of the owner for the purposes of his own residence' would only refer to a human owner and not a fictional entity. though ..... narayanappa v. bhaskara krishnappa, : 3scr400 , the supreme court, while dealing with the question whether the interest of a partner in partnership assets comprising of both movable and immovable property required registration under s. 17(1) of the registration act, 1908 observed (p. 1303) : 'from a perusal of these provisions it would be abundantly clear that whatever may be the character of .....Tag this Judgment!
Court : Chennai
Decided on : Aug-03-1981
Reported in : 153ITR313(Mad)
..... , even in england, is no longer so dogmatic. it recognizes, for instance, the retirement of a partner, and the introduction of a new partner, during the subsistence of a partnership. the indian partnership act, 1932, contains provisions for such situations as well as a few others, which can make sense only if we credit the firm with a limited personality of its own, and ..... on a partner in a partnership at will to retire from the partnership by the mere act of giving notice in writing to the rest of the partnership by the mere act of giving notice in writing to the rest of the partners. likewise, s. 43(1 ..... assessee-firm was a partnership at will. a partner in a partnership at will may issue a notice to bring about by the unilateral act of issuance of that notice, one of two results, viz., (1) either his own retirement from the firm, or (2) the general dissolution of the firm as such. section 32(1)(c) of the indian partnership act, 1932, confers a right ..... statute must, per force, also adapt its provisions to suit the various changes to which a partnership, as a form of business organization, is susceptible. this is actually reflected in the relevant provisions of the indian i.t. act, 1922, as well as the present i.t. act, 1961. they show how the legislature has adapted the taxing provisions to suit the different kinds .....Tag this Judgment!
Court : Mumbai
Decided on : Aug-18-1981
Reported in : (1981)25CTR(Bom)376; 134ITR268(Bom)
..... he has a right to transfer, mortgage or charge his interest in the firm, the rights of such transferee being defined by s. 29 of the indian partnership act. further, a partner's right to receive the value of his share in the net assets of the firm is not dependent upon the discretion of the ..... partner. both these rights are commonly referred to as his share or interest in the firm. this position is forcibly emphasized in s. 29 of the indian partnership act which relates to the rights of the transferee of a partner's interest. under that section a transferee of a partners interest in the firm, either ..... account in the profits and losses of the firm after the death of the said dadiba, nor to exercise an option under s. 37 of the indian partnership act but that they were entitled only to interest at the rate of 6 per cent per annum on the amount found due as the said dabiba' ..... realized must be brought into the hotch-potch for the purpose of applying it in the manner provided in cl. (b) of s. 48 of the indian partnership act.22. we will now ascertain the position where the retirement or death of a partner does not bring about the dissolution of a firm. this position can ..... , the question of the nature of a partner's interest in the firm fell for determination by the supreme court. after referring to various sections of the indian partnership act, the supreme court held as follows, at p. 1303:'from a perusal of these provisions it would be abundantly clear that whatever may be the character of .....Tag this Judgment!
Court : Allahabad
Decided on : Feb-23-1981
Reported in : AIR1981All324
..... on the taking of the accounts could be said to be barred by section 69 of the indian partnership act. it is undisputed that the firm was not registered under the indian partnership act. only the instrument of the partnership was registered under the indian registration act. now section 69 of the indian partnership act lays down first under sub-section (1):--'no suit to enforce a right arising from a contract ..... any right or power to realise the property of a dissolved firm.' the manner of taking accounts of a dissolved firm is prescribed as under by section 48 of the indian partnership act:--'in settling the accounts of a firm after dissolution, the following rules shall, 'subject to agreement by the partners be observed:--(a) losses, including deficiencies of capital shall be paid ..... section 69 of the indian partnership act. the relevant facts having a bearing on this point are these: the plaintiff claimed that the defendant carried on the business of a government contractor of buildings and roads etc ..... of which a final decree was passed by the trial court, and for rendition of accounts, on the ground that both the claims were barred by section 69 of the indian partnership act, on account of the fact that the finn was not registered.3. the first question which accordingly arose in this appeal was whether the plaintiff's claim was barred by .....Tag this Judgment!