Judgment Search Results Home > Cases Phrase: indian partnership act 1932 section 54 agreements in restraint of trade Court: chennai Page 1 of about 7 results (0.058 seconds)

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

Court : Chennai

Reported in : [1991]192ITR79(Mad)

..... 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 the stand taken later by the assessees in their letter that the was a change in the constitution of ..... 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. ..... in considering the question whether the tribunal was right in the view it took, the court pointed out that if there is no agreement to treat the firm as continuing notwithstanding the death of a partner, the partners really do not have the option to treat the firm as continuing, but the firm gets dissolved and the income-tax officer is not ..... under the indian partnership act, 1932, the firm gets dissolved and the income-tax officer is not entitled to ignore this consequence. .....

Commissioner of Income Tax Vs. Shankar Cottons

Court : Chennai

Reported in : (1997)137CTR(Mad)583; [1996]222ITR445(Mad)

..... 30 of the indian partnership act, 1932, a minor alone can be admitted to the benefits of partnership, with the consent of all the partners. ..... 6 of the indian partnership act, 1932, determines the mode of existence of the partnership. ..... the tribunal agreed with the view taken by the aac in granting registration to the assessee-firm, since, according to the tribunal, there is no prohibition in the indian partnership act, 1932, for admitting a major to the benefits of the partnership. 3. ..... 6 of the indian partnership act, 1932, particularly, expln. 2 to s. ..... 30 of the indian partnership act, 1932. 7. ..... 30 of the indian partnership act, 1932. ..... 30 of the indian partnership act provides that a minor cannot be a partner in a firm, but a minor can be admitted to the benefits of the partnership with the consent of all the partners. 4. ..... 6 of the indian partnership act states, who are all the persons who can receive a share in the profit of the partnership business without making them as partners. ..... 30 of the indian partnership act states that a person who is a minor according to the law to which he is subject may not be a partner in a firm, but, with the consent of all the partners for the time being, he may be admitted to the benefits of the partnership. ..... according to the facts arising in the case, the tribunal was of the view that there is no provision in the partnership act, which makes a partnership illegal or invalid, when a major is admitted to the benefits of the partnership. .....

M.O.H. Aslam Vs. M.O.H Uduman and ors.

Court : Chennai

Reported in : (1989)2MLJ172

..... under the pondicherry (laws) regulation, 1963; the indian partnership act, 1932 was extended to pondicherry on and from 1.10.1963, except for section 69, which came into force on and from 1.7.1964. ..... therefore, for all the reasons above stated, the suit partnership firm is a partnership-at-will, and therefore, in law, the plaintiff can seek for it's dissolution, and the rights of parties are governed by the indian partnership act, and that the alternative ground relied upon under section 44 of the indian partnership act has also to be gone into by the trial court on merits. ..... the profit and loss of the business of the firm shall be divided or borne between the parties of the firm in their existing ratio during that period...clause 5 of the said agreement deals wkh transfer of assets including good will and as per c1.8, the partnership firm agreed to execute further deed or instrument for assuming title to the fifth defendant company, in respect of franchise or other dealership rights, bus route permits and in respects of immovable properties. ..... clause 4 states that it is a partnership will, and there being no restraint put up on the right of each one of the partners to seek for dissolution, it could be exercised by any one of the partners. ..... the other assets remain to be transferred are stock-in-trade like cars, tractors, motor cycles, etc. ..... the firm picked up business gradually and traded in several consumer products such as motor cars, tractors, petroleum products, etc. .....

S. Parvathammal Vs. Commissioner of Income-tax

Court : Chennai

Reported in : [1987]163ITR161(Mad)

..... section 31 of the partnership act provides that no person shall be introduced as a partner into a firm without the consent of all the existing partners and this again is subject to a contract between the partners and the provisions of section 30 of the indian partnership act, 1932 ..... therefore, of a legal representative of a deceased partner in a partnership consisting of two partners which is dissolved on the death of one of them, would only normally be the right conferred by section 46 of the indian partnership act, 1932, referred to earlier. ..... further, under the provisions of section 46 of the indian partnership act, 1932, on the dissolution of a firm, every partner or his representative as against the other partners or their representatives, has the right to have the property of the firm applied in payment of the debts and liabilities of the ..... partnership agreement stated that the parties to the new agreement agreed to continue the partnership with effect from the date of the death of one of the partners in partnership. ..... partner continued the business in the firm name and the firm applied for registration on the basis of the partnership agreement of 1943. ..... there may also be cases where under the agreement between the original partners, the legal representatives of the deceased partner may be entitled to join in the firm in the shoes of the ..... of the partners was that the death of one of them was not to result in the dissolution of the firm, such an agreement could be given effect to. .....

A. Nagappan and 8 Others Vs. M/S. Mc. Adams Chemicals Manufacturing Co ...

Court : Chennai

Reported in : 1998(1)CTC694; (1998)IIMLJ435

..... 'the determination or the dissolution of the partnership at will is governed by section 43 of the indian partnership act, 1932: section 43 is as follows:'43. ..... in considering the said argument with reference to the facts in that particular case, the apex court considers section 43 of the indian partnership act, 1932 and order 20 rule 15 of civil procedure code, then hold that if the suit itself was for dissolution, it would be entirely foreign to plaint in such a suit for dissolution. ..... ramanujan is that since the suit itself is for dissolution, the suit must be construed t6 be one under section 44 of the indian partnership act, 1932 and therefore order 20, rule 15 of civil procedure code will apply. ..... after referring to theprovisions contained in section 43 of indian partnership act, 1932, the apexcourt has held that a partner in a partnership at will can give notice callingupon the partners for the dissolution of the firm without the intervention of thecourt, but it, does not choose to do so and wants to go to the court foreffecting the dissolution, he would be bound by the ..... in the said execution petition only the decree-holder pleaded that there was a tenancy agreement and possession could be delivered to the mortgagor, but the execution court ordered delivery. ..... the receiver to be appointed is not only to take charge of the business, including the stock in trade. .....

Smt. Sarojini (Recorded as Legal Representative of the Deceased Smt. S ...

Court : Chennai

Reported in : 2005(3)CTC308; (2005)2MLJ543

..... further, relying on section 37 of the indian partnership act, 1932, the learned counsel for the appellant would contend that no property is passed from the dissolved partnership firm since the property is only the customs licence which is in the name of deceased srinivasalu naidu and that the appellant, who is the surviving partner, need not to share the profit with the plaintiff and the other defendants, who are claiming share in the partnership firm as running ..... further, the learned senior counsel would contend that as per sections 16 and 50 of the indian partnership act, 1963, the third defendant has to render accounts as held by the learned single judge and therefore, the original side appeal has to be ..... since the learned counsel for the appellant relies on section 37 of the indian partnership act, in support of his contention, it is necessary for us to see, what section 37 of the act, says:'37. ..... other hand the learned counsel appearing for the respondents would rely on sections 16 and 50 of the indian partnership act, 1963.18. ..... a plain reading of the above section would not lend any support to the contention of the learned counsel for the appellant for the reason that admittedly either there was no final settlement of accounts or no contract to the contrary was entered and in such circumstances, it cannot be accepted that no property was passed from the dissolved partnership firm to the new partnership firm and therefore, the third defendant has to render accounts till the .....

V.M. Nissar Ahmed and ors., Minors by Guardian and Next Friend V.C. Ab ...

Court : Chennai

Reported in : (1970)1MLJ512

..... section 44 (g) of the indian partnership act of 1932 provides for the court, at the suit of a partner, to dissolve a firm on any ground which renders it just and equitable that the firm should be dissolved. ..... 28 at page 502, while pointing out that, where there is no express agreement to continue a partnership for a definite period, there may be an implied agreement to do so and that the burden of proving such an implied agreement is upon the person who alleges its existence, it is observed that the provisions relied on as showing an agreement to continue the partnership ' must be clearly inconsistent with the general right to dissolve. ..... on the terms of the agreement of partnership, the goodwill and trade mark are not the assets of the sixth defendant transmissible to his hairs in specie. ..... the former agreement of partnership which was between the two original partners provided that if one of them went out of the business, the trade mark and goodwill would be with the remaining partner who carried on the business. ..... the partners when they entered into the agreement of partnership, exhibit b-2, attached the greatest importance to the trade mark and goodwill of the firm. .....

R.M. Chidambaram Pillai and anr. Vs. Commissioner of Income-tax, Madra ...

Court : Chennai

Reported in : AIR1970Mad497; [1970]77ITR494(Mad)

..... in these circumstances, to import the definition of the word 'person' occurring in section 3(42) of the general clauses act, 1897, into section 4 of the indian partnership act, will, according to lawyers, english or indian be totally repugnant to the subject of partnership law as they know and understand it to be."8. ..... the indian partnership act by section 4, defines 'partnership' as 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 and that such persons collectively are called a firm and individually as partners. ..... a firm, partner and partnership, says section 2(6b), have the same meanings respectively as in the indian partnership act and the expression 'partner' included a minor admitted to the benefits of the partnership. ..... save for that purpose, there is nothing in section 3 which qualifies or in any way modifies the legal position of a firm or the principles applicable to it under the indian partnership act. ..... a firm is but a compendious expression of the relationship between the partners, who, by an agreement between them, embark on a commercial venture and contribute capital or labour and share profit and loss according to mutual understanding. ..... in mercantile practice the trade seems to look upon the firm as a kind of a body distinct from its members and capable in its right of owning property and entering into dealings and creating rights and liabilities binding on the partners. .....

Commissioner of Income-tax Vs. Janab N. Hyath Batcha Sahib

Court : Chennai

Reported in : [1969]72ITR528(Mad)

..... a transfer a clearly does not divest himself completely of his rights or interest in the property, though it is true b, by reason of the transaction, becomes entitled to certain rights which are regulated by the terms of the agreement of partnership, as well as the provisions of the indian partnership act. ..... section 14 of the indian partnership act shows the different process or methods by which a firm of partnership may come ..... section 48 of the indian partnership act makes a distinction between advances made by a partner and the capital contributed by him, for purposes of settlement of accounts between partners at dissolution and in the matter of settlement of priorities of rights ..... section 4 of the indian partnership act makes this explicit and says that a ' 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 ..... word ' sale ' has been used in section 10(2)(vii) in the sense of sale of goods as defined in the indian sale of goods act, 1930. ..... 12,442 was liable to be assessed to tax under section 10(2)(vii) of the income-tax act, 1922, till the year ended march 31, 1959, the assessee was carrying on business ..... this reference comes before us under section 66(1) at the instance of the commissioner of ..... to charge the difference between the writtendown value of the buses in the books of the association and their value as shown in the books of the company, under the second proviso to section 10(2)(vii). m. s. .....

N. Renuka Devi Vs. E. Lalitha and Another

Court : Chennai

..... years, both residing at no.919, poonamallee high road, madras-600 010; hereinafter called the "vendors" (ii) m/s.lakshmi builders, a partnership firm, registered under the indian partnership act, 1982, having its office at 624, anna salai, madras-600 006 and represented herein by its partners (i) mr.p.g.saranyan, ..... convey the properties set out in the schedule hereunder; (2) that the defendants herein do (a) execute a proper re-conveyance of the properties more particularly described in the schedule hereunder, in favour of the plaintiff herein according to the agreement aforesaid dated 24.03.1959 and (b) deliver possession to the said plaintiff herein, the said properties as set out in the said schedule hereunder, immediately after such re-conveyance; (3) that the income in respect of the aforesaid ..... decision in jaladi suguna, we are also of the view that in an eviction proceeding, when a legatee under a will intends to represent the interest of the estate of the deceased testator, he will be a legal representative within the meaning of section 2(11) of the code of civil procedure, for which it is not necessary in an eviction suit to decide whether the will on the basis of which substitution is sought for, is a suspicious one or that the parties must send the ..... other hand, pressure of whatever character, whether acting on the fears or the hopes, if so exerted as to overpower the volition without convincing the judgment, is a species of restraint under which no valid will can be .....