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Judgment Search Results Home > Cases Phrase: indian partnership act Year: 1990 Page 1 of about 168 results (0.065 seconds)

Nov 09 1990 (HC)

Commissioner of Income-tax Vs. Nalli Silk Emporium and Another

Court : Chennai

Decided on : Nov-09-1990

Reported in : [1991]192ITR79(Mad)

..... there is, however, no agreement to treat the firm as continuing notwithstanding the death of a partner, the partners have no option to treat the firm as continuing. under the indian partnership act, 1932, the firm gets dissolved and the income-tax officer is not entitled to ignore this consequence. there is nothing in the language of section 187, 188 or 189, ..... by the death of a partner. we have already pointed out that there is no contract contra and, by the force of the operation of section 42(c) of the indian partnership act, on the death of one of the partners on august 4, 1973, the firms stood dissolved. the stand taken by the assessee earlier or later in the course of ..... . on the other hand, learned counsel for the assessee submitted, referring to the provisions of the deeds of partnership and section 42(c) of the indian partnership act, that, on the terms found in the partnership deeds and the application of the provisions of the indian partnership act, the conclusion was irresistible that the firm stood dissolved on the death of one of the partners and that ..... other matters, viz., matters not specifically referred to in the deeds of partnership, the provisions of the indian partnership act shall be applicable. in other words, there is, under the terms of the partnership, no contract to the contrary, as envisaged in section 42(c) of the indian partnership act. section 42(c) of the indian partnership act provides that, subject to contract between the partners, a firm is dissolved .....

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Jun 25 1990 (HC)

Kommineni Krishna Rao Vs. Kommineni Babjee Rao and anr.

Court : Andhra Pradesh

Decided on : Jun-25-1990

Reported in : [1992]75CompCas121(AP)

..... first defendant and not in the name of the firm, the parties are relegated to the status of co-owners from that of partners and, therefore, the provisions of the indian partnership act relating to dissolution of the firm and rendition of accounts cannot be resorted to. 33. the first defendant, in his written statement, clearly admitted the allegations in the plaint that ..... and not in the name of the firm, the parties are relegated to the status of co-owners as distinct from that of partners and, therefore, the provisions of the indian partnership act relating to the dissolution of the firm and rendition of accounts cannot be resorted to. therefore, the plaintiff and defendants are co-owners or co-sharers in respect of the ..... entitled to physical partition of the cinema-hall and its machinery and the site under the provisions of the partnership act 5. to what relief 7. additional issues : 1. whether the suit is not maintainable as it is hit by section 69 of the indian partnership act 2. whether the suit partnership is illegal and opposed to public policy and hit by section 23 of the ..... indian contract act 8. the learned trial judge, on consideration of the entire material placed before him, held that the suit partnership is illegal and opposed to section 23 of the indian contract act and that the suit is not .....

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Jun 25 1990 (HC)

Kommineni Krishna Rao Vs. Kommineni Babjee Rao and Another

Court : Andhra Pradesh

Decided on : Jun-25-1990

Reported in : AIR1991AP232

..... first defendant and not in the name of the firm, the parties are relegated to the status of co-owners from that of the partners and therefore, the provisions of indian partnership act relating to dissolution of the firm and rendition of accounts cannot be resorted to.31. the first defendant in his written statement clearly admitted the allegation in the plaint that ..... first defendant and not in the name of the firm, the parties are relegated to the status of co-owners from that of partners and therefore, the provisions of the indian partnership act relating to the dissolution of the firm and rendition of accounts cannot be resorted to. therefore, the plaintiff and defendants are co-owners or co-sharers in respect of the ..... hit by s. 69 of the partnership act? 2. whether the suit partnership is illegal and opposed to public policy and hit by s. 23 of the contract act? 7. the learned trial judge on consideration of the entire material placed before him held that the suit partnership is illegal and opposed to s. 23 of the indian contract act and that the suit is not maintainable ..... full bench referred to : air1950mad444 (fb) (supra). the learned trial judge held that the suit for dissolution and for accounts is not maintainable as the partnership is illegal and is hit by s. 23 of the indian contract act.16. the learned judges of the division bench, in the case referred to : air1986ap84 (supra), after referring to the contentions raised on both the .....

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Sep 19 1990 (HC)

Harish Kumar Vs. Bachan Lal and Others

Court : Punjab and Haryana

Decided on : Sep-19-1990

Reported in : AIR1991P& H130; (1991)99PLR188

..... the banks after dissolution was of any consequence as held by the learned single judge. this is quite evident when it has been provided in section 43 of the indian partnership act that the partnership at will may be dissolved by giving notice in writing of his intention to dissolve the firm. at that time, the question of settlement of accounts etc. does not ..... acting for all. section 39 of the indian. partnership act provides that the dissolution of partnership between alt the partners of a firm is called the dissolution of the firm. thus dissolution means coming to an end the relation between ..... the date of institution of the suit for rendition of accounts, the suit did not lie and the suit was barred by time.'6. apart from that 'partnership', as defined in section 4 of the indian partnership act, means that it is the relation between persons who have agreed to share the profit of a business carried on by all or any of them ..... therefore, the suit was within time. according to the learned single judge, neither any occasion nor any event occurred for dissolution of the partnership prior to 10th july, 1974 by any of the modes provided in the indian partnership act. as a result of this finding, plaintiff's suit was decreed and a preliminary decree was passed in favour of the plaintiff and against .....

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Jun 22 1990 (HC)

Commissioner of Income-tax Vs. Nirmal Kumar and Co.

Court : Madhya Pradesh

Decided on : Jun-22-1990

Reported in : [1991]188ITR631(MP)

..... light of the proviso to sub-section (5) and the provisions of sub-section (7) of section 30 of the indian partnership act, 1932, and those of section 185(3) of the act, the tribunal came to the conclusion that the assessee was entitled to the continuation of registration of the firm. this conclusion ..... given by the firm in form no. 12 was held to be incorrect by the income tax officer. the income-tax officer ultimately held that the partnership deed dated may 16, 1970, lost its validity on december 27, 1971, when the minor, tarun kumar, attained majority and as such during the ..... 21, 1971, and on becoming major, he became liable for losses in the firm also. the income-tax officer further observed that the instrument of partnership dated may 16, 1970, did not show how losses would be apportioned amongst the major partners on the attaining of majority by the minor partner. ..... year under consideration, there was no genuine partnership firm in existence evidenced by a proper partnership deed. accordingly, the income-tax officer refused renewal of registration to the firm under section 184(7) of the act and proceeded to assess it as an association of persons. the appeal ..... income-tax act, 1961 (in short, the 'act'), the revenue has applied to this court for requiring the appellate tribunal to state the case and to refer it for the opinion of this court on the following two proposed questions of law :'1. whether the tribunal has construed the partnership deed reasonably .....

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Mar 14 1990 (HC)

G Ramchand Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Mar-14-1990

Reported in : [1990]185ITR140(Mad)

..... -sheet dated june 18, 1977, the investment is shown to have been made with money belonging to the firm and under section 14 of the indian partnership act, the investment should be deemed to be for and on behalf of the firm. we may also refer in this connection to the observations in sudarsanam ..... included as the income of the assessee-firm. on the other hand, learned counsel for the revenue submitted that as per section 14 of the indian partnership act as well as the balance-sheet filed by the assessee, the investment should be properly regarded only as that of the firm and that the tribunal ..... that lands and houses bought in the name of one partner and paid for by the firm or from the profits of the partnership business are prima facie partnership property and the ordinary rule is that unless a contrary intention appears either expressly or by the nature of the transaction, property bought ..... account styled as asset account was opened and that was debited with rs. 2,00,000 referable to the amount invested in fixed deposits with the indian overseas bank. thus, even according to the balance-sheet submitted by the assessee-firm, it had treated the investment in fixed deposits as its own ..... account was opened styled as assest account and that was debited with rs. 2,00,000 representing the amounts invested in fixed deposits with the indian overseas bank. according to the tribunal, the intention reflected by the balance-sheet filed along with the return was that the assessee-firm had treated .....

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Jul 18 1990 (HC)

Commissioner of Income-tax Vs. JaIn Hardware Stores

Court : Guwahati

Decided on : Jul-18-1990

..... person being a partner in a firm in his individual capacity as well as as a karta of a hindu undivided family. it is aware of the provisions of the indian partnership act, 1932. it has clearly provided that where the karta is a partner in a firm and it is found as a matter of fact that he is a partner representing ..... its karta and cannot enter into an agreement with any individual, but can be a partner in a firm and cannot exercise all rights of a partner under the partnership act. a coparcener of a hindu undivided family can lay claim against the karta to monies received on behalf of the hindu undivided family. the coparceners of the hindu undivided family ..... the well-accepted principles of interpretation of statutes. we, accordingly, hold that the expression 'individual' used in section 64 of the act has to be read in the context of income arising to such individual from the membership of the partnership, etc. if the income does not arise to him, then the section would not apply. in a case where the karta ..... a. raghuvir, c.j. 1. this reference is made under the income-tax act, 1961, at the instance of the commissioner of income-tax, north eastern region. the assessee is a partnership firm consisting of four partners, and one among the four is dindayal jain. the firm paid to dindayal jain rs. 2,340 in the relevant assessment year 1978-79, rs. .....

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Dec 31 1990 (TRI)

Central Cloth Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Dec-31-1990

Reported in : (1991)37ITD1(Mum.)

..... .e., the shares are not specified but left to imagination, hence it cannot be said on those facts that there was a firm or a partnership in the eyes of law as stood defined in the indian partnership act, 1932 and for income-tax purposes.to the same effect is the decision of the punjab high court (as it then was). it is reported ..... be carried forward/accumulated to be distributed in such manner/in such proportion/at such time as the parties to the deed of partnership may decide upon from time to time.6. under section 4 of the indian partnership act, 1932, 'partnership' is the relation between persons who have agreed to share the profits of a business carried on by all or any of them ..... : - the stand of the assessee is that the assessee meets the requirements of law in terms of the definitions in the income-tax act, 1961 and the indian partnership act, 1932 vis-a-vis the definitions of 'firm', 'partners' and 'partnership'. the stand of the revenue is that charge of tax, qua the assessees have to be under section 167a inasmuch as shares of the ..... lack of precision in the language to express and in that case it will be subject to the provisions of the indian partnership act, 1932 but when the uncertainty is in terms of clear expression, then the replationship cannot be termed as partnership. in the case of the assessees-appellants, a part of the profits - a very negligible part of the profit - is to .....

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Jan 19 1990 (HC)

Sri Kishan Gupta Vs. Ram Babu Gupta

Court : Allahabad

Decided on : Jan-19-1990

Reported in : AIR1990All171

..... in writing expressing the intention to dissolve the firm. this submission, however is not entirely correct. as a matter of fact, chapter vi of the indian partnership act deals with various aspects connected with dissolution of a firm. in s. 39 the term dissolution of firm is defined and in s. 40 it ..... any, executed by and between the partners and other facts and surrounding circumstances of the case. under section 40 of the partnership act, a firm can be dissolved with the consent of all the partners or in accordance with the contract between partners; under section 43 a ..... question arose whether the benefits available to the old firm under the income-tax act could be claimed by the succeeding firm. in that connection, the court considered the provisions of ss. 40 and 43 of the partnership act and this is what the supreme court had to say on this question:--'the ..... existing between them. in the case of dissolution of firm by mutual consent, no dissolution can take place by unilateral act of a partner but even in that case if the partnership is at will, it can be dissolved by notice in writing to the other partners conveying the intention to dissolve the ..... died on 25th february, 1977, and subsequently there was again reconstitution of the partnership on 1st april, 1977. this time two partnership deeds were executed between the parties, each having half sharein two partnership businesses, one in the name of indian industries and steel company and the other was cloth business in the name of .....

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Oct 20 1990 (HC)

Sri Hara Prasad Hota Vs. Batliboy and Co. Private Ltd. and ors.

Court : Orissa

Decided on : Oct-20-1990

Reported in : 1991(I)OLR70

..... no. 1 batliboy and co. private limited filed. money suit no. 3688 of 1969 agamit the opposite party no. davaloy trading house, a partnership firm registered under the indian partnership act in the calcutta high-court and obtained a decree for realisation of rs. 1,05,645.85 with interest at the rate of 6 per ..... between themselves. when the decree is passed, it is against the firm. such a decree is capable of being executed against the property of the partnership and also against two classes of persons individually. they are (sic) persons who appeared in answer to summons served on them as partners and either ..... writing given at the time of such service, whether he is served as a partner or as a person having the control or management of. the ; partnership business, or in both characters and, in default of such notice, the person served shall be deemed to be served as a partneras provided under rule ..... .6. for proper appreciation of the matter it is necessary to notice some provisions of the civil procedure code which deal with suits and execution cases relating to partnership firms. order 30, c. p. c. contains the provisions regarding suits by or against firms and persons carrying on bisiness in names other than their ..... to realise the decretal dues from him and to take coercive process for that purpose.5. as noticed earlier, the suit was filed against the partnership firm only. the petitioner had not been impleaded in the suit as a partner of the firm or in any other capacity. but in the .....

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