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Judgment Search Results Home > Cases Phrase: indian partnership act Year: 1987 Page 3 of about 161 results (0.146 seconds)

Sep 03 1987 (TRI)

income-tax Officer Vs. Tuli Veneer Plywood Industries

Court : Income Tax Appellate Tribunal ITAT Guwahati

Decided on : Sep-03-1987

Reported in : (1988)24ITR345(Gau.)

..... not entitled to registration as it makes the minor liable for the losses during the period km. sangita remained a minor. in this context, he referred to mukherjee's indian partnership act, 1976, edition, pages 249-251.5. in reply, the assessee's learned counsel supporting the aac's order brought to our notice the recitation made in the deed that an ..... previous year next after the date of attaining majority could be granted registration under section 185(1)(a). it was held that under the provisions of the partnership act, a minor admitted to the benefits of partnership had two options open to him on attaining majority ; (i) he should either elect to become a partner in the firm, or (ii) he should repudiate ..... registration having been found to be in order, the requirements of section 185(1)(a) of the income-tax act, 1961 ('the act'), had been satisfied.6. the partnership deed as available from the ito's records reveal that as per oral agreement a partnership was formed w.e.f. 1-1-1981. the recital to that effect reads as follows : whereas the partners ..... hereto to the first part to fifth part made an oral agreement and formed a partnership between themselves with effect from .....

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Oct 26 1987 (TRI)

Rana Rubber Industries Vs. Collector of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Decided on : Oct-26-1987

Reported in : (1987)(32)ELT433TriDel

..... , certificate from sales tax officer is not a clear proof that the partnership has been registered with the new partners as claimed in the partnership deed effective from 1-12-1978. in order to admit a partnership deed with specified partners, it is required to be registered under the indian partnership act. if that is not done, then the appellant company was required to ..... follow the provisions of the central excise law, to rid itself of the central excise duty liability. therefore, we are inclined to agree with the adjudicating authority that the dissolution of the old partnership in respect of the other unit ..... that partnership must necessarily be registered before it is accepted by the central excise authority. the fact that ..... are dealt with seriatam below :- (i) the new partnership deed executed in respect of other unit rr&pm w.e.f. 1-12-1978 cannot be doubted simply because it is not a registered document on the ground that non-registration of partnership deed merely disentitled partnership from certain rights under the partnership act. the central excise law does not anywhere lay down .....

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Feb 02 1987 (HC)

Ahmedally G. Kathawala Vs. Jhaverbai H. Daulat

Court : Mumbai

Decided on : Feb-02-1987

Reported in : (1987)89BOMLR277

..... that the agreement dated november 9, 1973 was between appellants nos. 1 to 8 as individuals and not as partners and withdraws his objections under section 69(2) of the indian partnership act, 1932.53. the objections raised by defendant no. 3 to the consent decree being passed as set out above are dismissed for reasons set out earlier.54. appeal is allowed ..... of plaintiffs nos. 1 to 9. he, however, held that plaintiffs 1 to 8 were a partnership at all material times after he examined evidence led in this connection. this partnership was not registered. he, therefore, upheld the preliminary objection under section 69(2) of the partnership act and dismissed the suit of the plaintiffs. the present appeal is filed by the original plaintiffs ..... of defendants nos. 1 and 2 that plaintiffs nos. 1 to 8 had entered into the said agreement as partners of an unregistered partnership firm called k & n enterprises. the suit which was by an unregistered partnership was not maintainable under section 69(2) of the partnership act, 1932, in view of this objection, plaintiffs nos. 1 to 8 formed themselves as a ..... partnership firm under a partnership deed dated september 4, 1982 and got themselves registered as a partnership firm on september 1.6, 1982. the said partnership firm has been allowed to be joined .....

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May 06 1987 (SC)

Helper Girdharbhai Vs. Saiyed Mohmad Mirasaheb Kadri and ors.

Court : Supreme Court of India

Decided on : May-06-1987

Reported in : AIR1987SC1782; (1987)2GLR960; JT1987(2)SC599; 1987(1)SCALE1235; (1987)3SCC538; [1987]3SCR289

..... there in a particular case or not must be judged in the light of the principles applicable to partnership. the first question, therefore, is what is a partnership? that has to be found in section 4 of the indian partnership act, 1932, it says 'partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any ..... of them acting for all'. section 6 of the said act reiterates that in determining whether a group of persons is ..... not exit must depend on the real intention and contract of the parties and not merely on their expressed intention. he also referred to section 4 of the partnership act about the principles of partnership namely, (1) there must be agreement entered into by all the persons concerned; (2) the agreement must be to share the profits of a business; and (3) the ..... appellant the right to share the profits and made him agent for certain limited purposes of the firm and there was evidence that the partnership deeds were acted upon. there was evidence of suit of dissolution of the partnership where none of the partners took the plea that it was a false or a fictitious document. though the decree in the dissolution suit .....

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Mar 19 1987 (HC)

Pramod Foods Pvt. Ltd. Vs. State of Kerala

Court : Kerala

Decided on : Mar-19-1987

Reported in : [1988]69STC257(Ker)

..... to the characteristic of the said person. a partner need not necessarily be a natural human being. the word 'person' in section 4 of the indian partnership act contemplates both natural and artificial (i.e., legal) persons [vide dulichand laxminarayan v. commissioner of income-tax [1956] 29 itr 635 ]. further, ..... , and articles of association along with the application. sub-clause (b) provides that if a partner retires from the firm without the partnership being dissolved, he should send a declaration in form 3 to the registering authority within thirty days of his retirement along with a copy ..... p. raghunath for the petitioner and sri t. karunakaran nambiar, special government pleader (taxes) for the respondents. 2. one krisp biscuit company was a partnership with six partners, namely, mrs. v.k. kunhikadeeja and others, which was carrying on business at calicut with effect from 14th april, 1980. the ..... petitioner pramod foods pvt. ltd. is a private limited company registered under the indian companies act, 1956. on 1st july, 1985, five of the partners of the firm krisp bisuit company retired, the petitioner joined the firm as a ..... partner to carry on the business in partnership with mrs. v.k. kunhikadeeja. as per the deed of partnership, copy of which is exhibit pi, the major share in the partnership .....

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Jan 28 1987 (TRI)

Collector of Central Excise Vs. L.K.S. Jewellers

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Tamil Nadu

Decided on : Jan-28-1987

Reported in : (1987)(12)ECC202

..... partnership, that perhaps cannot be extended to the extent of abrogating the rights of the department ..... act would conflict with such salutary provisions under the partnership act is not tenable in the context of the case because under the ..... authorities at all to institute such proceedings or action as are open to them under the act in a situation where a contravention is established. the plea of the learned sdr that under the indian partnership act, a minor can be admitted only to the benefits of the partnership and therefore, any proceedings which would be detrimental to the interests of a minor under the ..... in the form gs-6 and therefore, the provisions of the act and rules would become un-workable. the learned sdr urged that even under section 30(3) of the indian partnership act, 1932, a minor is not personally liable for the act of the firm. the learned sdr urged that though under the partnership act, the minor can be admitted to the benefits of the .....

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Apr 30 1987 (TRI)

Patchipulusu Subbarayudu Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Decided on : Apr-30-1987

Reported in : (1987)22ITD475(Hyd.)

..... be taxed as a registered firm. in the case before us, since the firm itself stood dissolved in terms of section 42(b) of the indian partnership act, 1932, there is no question of assessment being made in the status of unregistered firm or registered firm.8. before parting with this appeal, we ..... had started selling its assets including its building, upon ceasing of business. thus, the purpose for which the partnership was formed had come to an end or had been abandoned. section 42 of the indian partnership act, 1932, deals with dissolution of a firm on the happening of certain contingencies. according to clause (b) ..... . their lordships held that with effect from 1-4-1968, the assessee-firm's business no longer existed and under section 42(b) of the partnership act, the firm, therefore, stood dissolved and only its individual partners would be liable. they were not an association of persons too, because there was ..... and the materials on record, we are inclined to modify the order of the appellate assistant commissioner of income-tax.initially, the assessee was a partnership firm for purpose of owning and exploiting sri rama rice mill. in the previous year relevant to the assessment year 1975-76, part of the ..... , then such an instrument, whether it is by way of a regular partition deed or a release deed, must be duly stamped. the indian stamp act defines an instrument of partition as 'any instrument whereby co-owners of any property divide or agree to divide such property in severalty'.he also .....

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Aug 19 1987 (HC)

Commissioner of Income-tax Vs. Nataraj Finance Corporation

Court : Andhra Pradesh

Decided on : Aug-19-1987

Reported in : (1988)69CTR(AP)15; [1987]169ITR732(AP)

..... of persons as, admittedly, no business is being carried on by the assessee. unless a business is carried on, the question of a partnership being formed under the indian partnership act does not arise. on the facts and circumstances, it seems to us that the more appropriate description of the assessee would be an ' ..... the same. the provisions relating to the grant of loans to members, etc., in the deed would indicate that in reality the deed of partnership is only a memorandum of association containing the terms and conditions governing the conduct of the business of the assessee consisting of 19 members. it ..... applicable and the income cannot be taxed. the income-tax officer rejected this contention on the short ground that in clause 1(b) of the partnership deed there is a provision to carry on the business in advancing loans to outsiders also and this provision militated against the assessee's claim of ..... the previous year relevant to the assessment year 1977-78, some changes occurred in the constitution of the firm, with the result that a deed of partnership was executed on april 15, 1976, among 19 partners. this firm filed a return declaring an income of rs. 48,310. it is said ..... that although the assessee has been carrying on the business activity of lending moneys to its members, it described itself as a partnership firm. looking into the provisions of the partnership deed, which are extracted by the tribunal in its order, we are satisfied that the description by the assessee of itself .....

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Apr 16 1987 (SC)

Commissioner of Gift Tax, Gujarat Vs. Chhotalal Mohanlal

Court : Supreme Court of India

Decided on : Apr-16-1987

Reported in : AIR1987SC1412; (1987)61CTR(SC)263; [1987]166ITR124(SC); JT1987(3)SC8; 1987(1)SCALE823; (1987)2SCC612; [1987]2SCR1042; 1987(2)LC471(SC)

..... right of a partner in respect thereof is applicable to the instant case. in this connection, it may be mentioned that according to section 14 of the indian partnership act, property of a firm includes goodwill of the business. further, according to section 29(2), if a partner transfers his interest and the transferring partner ceases ..... assets of the firm to which the transferring partner is entitled to. it further appears that under proviso to section 53 of the indian partnership act, in cage of dissolution, a partner or his representative may buy the goodwill of the firm and under section 55(1) of the ..... : [1985]153itr481(mad) the madras high court was called upon to deal with a case of this type where minors were admitted to the benefits of partnership firm and the assessee's interest in the firm suffered the detriment by relinquishment of a portion of his interest. the high court found that relinquishment of ..... instance of the revenue:-whether on the facts and in the circumstances of the case, the benefit of partnership given to minors kirit kumar chhotalal and deepak kumar chhotalal was a gift under the gift tax act, 1958?the high court answered the question against the revenue and up-held the view of the tribunal. ..... a 'gift'.4. once goodwill is taken to be property and with the admission of the two minors to the benefits of partnership in respect of a fixed share, the right to the money value of the goodwill stands transferred, the transaction does constitute a gift under the .....

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Sep 11 1987 (HC)

Harijan Boot House Vs. Registrar of Firms

Court : Gujarat

Decided on : Sep-11-1987

Reported in : (1988)1GLR11; [1988]171ITR549(Guj)

..... challenged the legality and validity of the aforesaid order. 5. it may be noted that there is no provision in the indian partnership act, 1932, which makes it obligatory on the part of a firm to get itself registered with the registrar of firms. the registration of a ..... partnership firm is optional. sections 58, 59, 63 and 69 of the indian partnership act are the relevant provisions which are required to be read together. section 58 of the act provides that registration of a firm may be effected at any time ..... not registered. there is no direct compulsion for getting a firm registered. however, no member of an unregistered firm can enforce his right under the partnership act, against either the firm or any present or past member of the firm nor can the firm sue its customers on their contracts. the firm ..... the date when the necessary entry is made in the register of firms by the registrar of firms. similarly, even under section 69 of the partnership act, which deals with the effect of non-registration, the registration of a firm subsequent to the filing of a suit does not cure the defect. ..... reference may be made to the case of rajasthan trading company v. registrar of firms, : air1975ap232 . the andhra pradesh government framed rules as a.p. partnership (registration of firms) rules (1957). rule 4(2) thereof provided that the application for recording changes in the constitution of the firm as provided under section .....

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