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Judgment Search Results Home > Cases Phrase: rights and duties of partner partnership Page 1 of about 8,493 results (0.043 seconds)

Jan 10 1997 (HC)

Commissioner of Income Tax Vs. Standard Maltings and Allied Products C ...

Court : Gujarat

Reported in : [1997]226ITR1(Guj)

..... . even the scheme under the it act regarding assessment of firm as a distinct assessable unit does not do away with the concept of partnership and rights and duties of partners inter se continue to be governed by the provisions of the indian partnership act. though, for the purpose of taxation a 'firm' is treated as a distinct unit, its meaning even in the context ..... outgoing partners. the it act does not contain any provision having bearing on the question of constitution ..... of the firm. it, therefore, can never be said that the provisions of the partnership act should be ignored the moment a firm is viewed as ..... , retirement of a partner which has the effect of changing the constitution of the firm in this context is required to be viewed in the light of the provisions of the partnership act, which alone deals with the question of the constitution of the firms, their reconstitution and dissolution, as also with the rights and duties of the continuing partners as well as the .....

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Jan 10 1997 (HC)

Commissioner of Income Tax Vs. Standard Maltings and Allied Products C ...

Court : Gujarat

Reported in : (1997)139CTR(Guj)284

..... . even the scheme under the it act regarding assessment of firm as a distinct assessable unit does not do away with the concept of partnership and rights and duties of partners inter se continue to be governed by the provisions of the indian partnership act. though, for the purpose of taxation a 'firm' is treated as a distinct unit, its meaning even in the context ..... outgoing partners. the it act does not contain any provision having bearing on the question of constitution ..... of the firm. it, therefore, can never be said that the provisions of the partnership act should be ignored the moment a firm is viewed as ..... , retirement of a partner which has the effect of changing the constitution of the firm in this context is required to be viewed in the light of the provisions of the partnership act, which alone deals with the question of the constitution of the firms, their reconstitution and dissolution, as also with the rights and duties of the continuing partners as well as the .....

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Oct 17 2001 (TRI)

Kantilal Manilal and Co. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2002)82ITD354(Mum.)

..... partners had the right to utilise the amount lying in their credits in any manner they liked. we entirely agree ..... a course of dealing. as per partnership deed, there was no compulsion of providing any specific capital to the firm ..... the it act which prohibits allowance of interest paid to the partners by the firm in which they are partners.4.2. the learned counsel for the assessee has heavily relied upon section 11 of the partnership act which provides that the rights and duties of partners of a firm may be determined by the contract between the partners. he stated that by virtue of section 11, the ..... his contention, he referred to the capital accounts of the partners and copies of accounts of those two firms have been placed in the paper book. he submitted that section 11 of the partnership act provides that the mutual rights and duties of partners of a firm may be determined by contract between the partners and such contract may be expressed or may be implied by .....

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Dec 17 1948 (PC)

Kasi Alias Alagappa Chettiar and ors. Vs. Rm. A. Rm. V. Ramanathan Che ...

Court : Chennai

Reported in : (1949)1MLJ298

..... incurred before dissolution and such only of the liabilities incurred thereafter by the surviving partners, as are incidental to and necessary for the winding up of the business (sections 46 and 47 of the partnership act). the surviving partners have the right and duty to realise the partnership property and in this sense and for this purpose, they hold a fiduciary ..... relationship towards the deceased partner's representatives as regards his interest in the partnership property bourne, in re: bourne v. bourne 1 ch. 343 ..... (1906) 3 ch. 427 and govindas v. official assignee, madras the surviving partner's right to ..... will readily interfere at their instance by an injunction or by an appointment of a receiver, to preserve and realise the partnership assets and to prevent any act of a partner which would interfere with the rights of other partners or their representatives or impede a speedy and profitable winding up. the contention of the respondents, apparently accepted by the .....

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May 08 1934 (PC)

Govindoss Krishnadoss Vs. the Official Assignee of Madras

Court : Mumbai

Reported in : (1934)36BOMLR858

..... expressed in bourne's case by romer l. j. (p. 431):when a partner dies and the partnership comes to an end, it is not only the right, but the duty, of the surviving partner to realize the assets for the purpose of winding up the partnership affairs, including the payment of the partnership debts. it is true that in a general sense the executors or administrators ..... right in any individual asset of the partnership property as will entitle them to interfere with the surviving partners' right to deal with and dispose of any ..... .18. it is clear on these authorities that the right of the representatives of the deceased partner is one of property and does not rest merely on contract, and that the surviving partners, who have the right and duty to realise the partnership property, hold a fiduciary relationship towards the deceased partner's representatives as regards his interest in the partnership property, though the latter have no such .....

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Aug 22 1963 (HC)

Gurunath V. Dhakappa Vs. Commissioner of Income-tax, Mysore

Court : Karnataka

Reported in : ILR1963KAR940; [1964]53ITR757a(KAR); [1964]53ITR757a(Karn)

..... & co. is apposite for our present purpose. that decision turned on the provision of the english workmen's compensation act, 1897. the rights and duties of the partners in partnerships firm in this country are governed by the provision in a partnership act and not by the abstract doctrines such as that a person cannot be an employee as well as his employer. further, in ..... duties performed by him. therefore the present case is not one that falls within the scope of section 9 of ..... the indian partnership act, 1932. but it falls under section 13(a) of that act, which provides that subject to ..... for the maintenance of account books, to which the partners should have access at all times. clause ii prohibits the manager from doing certain things. clause 15 enumerates the powers of the manager. clause 16 sets out the duties of the assistant managers. on an examination of the partnership deed, it is clear that the partners had agreed to remunerate the manager for the .....

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Sep 22 2017 (HC)

Chiranjilal Bajoria and Ors. Vs. Sudhir Jalan and Ors.

Court : Kolkata

..... fraud in conduct of the business of the firm. mandatory. this section is section 11 provides that subject to the provisions of the partnership act, the mutual rights and duties of the partnership may be determined by contract between the partners and such contract may be expressed or may be implied by a cours.of dealing. the opening words of the section subject to the ..... entitled to share equally the profits and must contribute equally to the losses of the partnership. section 17 of the partnership act gives general rules for the determination of the rights and duties of the partners after the happening of events which would otherwise leave these rights and duties undetermined. the right and/or the option conferred by the provisions of section 37 on the estate of the ..... 37 of the act as argued cannot apply. mr.banerjee has referred to section 5 of the partnership act, 1932 and submits that the relationship of partners arises from contract and, therefore, the partners or their legal representatives would be bound by the contractual rights. the rights and duties of partners by contract are statutorily recognized in section 11 of the act. mr.banerjee would like this .....

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Dec 16 2008 (HC)

Kuljinder Singh Ahluwalia Vs. Sandeepkaur Ahluwalia and ors.

Court : Mumbai

Reported in : 2009(3)BomCR418

..... the partners, expressly or impliedly. in this case the rights of the plaintiff as a partner claiming an equal share in ..... or the persons stated to be a partner of the firm are required to be not only under a contract (necessarily a contract of partnership), but may also be with regard to the rights conferred under the act.17. which are the rights conferred under the partnership act? under section 11 of the partnership act the mutual rights and duties of the partners are determined by the contract between ..... the profits and assets of the firm with defendants 1 and 2 is under the written contract being the supplementary deed of partnership deed dated 2nd april .....

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Mar 16 2006 (HC)

Vemuri Lakshmi Nageswara Rao and anr. Vs. Joint Collector and Addition ...

Court : Andhra Pradesh

Reported in : 2006(3)ALD317

..... in the constitution of a firm, the mutual rights and duties of the partners in the reconstituted firm remain the same as they were immediately before ..... , as far as may be; (b) where a firm is constituted for a fixed term continues to carry on business after the expiry of that term, the mutual rights and duties of the partners remain the same as they were before the expiry; and (c) where a firm constituted to carry out one or more adventures or undertakings carries out other adventures or ..... of possession by them. further, by reason of sections 29, 31 and 32(3) of the partnership act, the transferee of a partner's interest cannot interfere with the mutual rights and obligations of the original partners nor the retirement of a partner puts an end to such mutual rights and obligations. the mere entitlement of a transferee to a share in the profits under section ..... , the property of the firm, and interest and right in the property either existing or acquired later, shall be included in the stock of the firm. such property shall have to be used by the partners exclusively for the purpose of business. section 17 of partnership act adumbrates the rights and duties of the partners. it is to the effect that (a) where a change occurs .....

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Mar 12 1962 (HC)

Gopi Nath Vs. Satish Chandra

Court : Allahabad

Reported in : AIR1964All53

..... individual asset of the partnership property as will entitle them to interfere with the surviving partners rights to deal and dispose ..... lordships of the board have explained the right of the representatives of the deceased partner to the assets of the partnership as one of property and not merely resting on contract and have held that the surviving partners who have the right and duty to realise the partnership property, hold a fiduciary relationship towards the deceased partner's representatives as regards his interest ..... in the partnership property though the latter have no such right in any ..... as follows :'it is well settled that when the karta of a joint hindu family enters into a partnership with strangers, the members of the family do not 'ipso facto' become partners in that firm. they have no right to take part in its management or to sue for its dissolution. the creditors of the firm would .....

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