Judgment Search Results Home > Cases Phrase: limited liability partnership act 2008 section 79 power to make rules Page 1 of about 1,468 results (0.262 seconds)

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

Court : Chennai

Reported in : (1949)1MLJ298

..... a series of authorities, both english and indian, had previously laid down the same rule as was subsequently enacted in section 42 of the english partnership act corresponding to section 37 of the indian act and under those decisions, the representatives of a deceased partner had the option to claim profits or interest see ..... assignee, madras the surviving partner's right to deal with and dispose of the assets of the dissolved firm or to incur fresh liabilities so as to bind the interests of the deceased partner, is limited to the purposes of realisation and winding up and for completing transactions begun but unfinished at the time of the dissolution govindas v ..... and particularly on the following observations of phillips j:it is not necessary that the whole of the partnership assets should be used in making the subsequent profits, for, if any portion of the assets are so used, the retiring partner, who has a share in every portion of the partnership assets, is entitled to a similar share in the profits ; this is laid down by romer ..... , then, he, in the absence of an agreement to the contrary, is entitled, at his option, either to claim a share of the profits made with the use of his share of the partnership assets since the dissolution of the firm by his retirement or to interest and that the retiring partner is not bound to make his election as to whether he would claim a share of the profits or interest until the share of the profits that would fall to him has been ascertained. .....

Kashiram Bhagshet Shete Vs. Bhaga Bhaushet Redij

Court : Mumbai

Reported in : AIR1945Bom511; (1945)47BOMLR470

..... of the family, sub-section (3) of section 21 of the indian limitation act would not in terms apply, and even though the i debt or liability had been incurred by or on behalf of the joint family by its manager i for the time being, the person who was the manager of the family at the date when the said debt or liability had been incurred by him on behalf of the joint family, would not have the power to acknowledge the debt or make the part-payment so as to extend ..... the rules of hindu law are primarily to govern the relations of the members inter se as regards an ancestral business which descends on the members of a joint family as an inheritable asset, as regards the dealings of the joint family with and the liabilities of the members of the joint family to outside creditors who had dealings with the joint family, they are to be governed also by the principles of the law of partnership under the indian contract act (now the indian partnership act ..... though recognising that it was not a case of an ordinary partnership arising out of a contract but was a case of joint ownership in a trading business created through operation of hindu law between the members of an undivided hindu family, stated that the rights and liabilities arising out of such a relation could not be determined by exclusive reference to the indian contract act, but must be considered also with regard to the general rules of hindu law, which regulated the transactions of united families. .....

Wind World (India) Limited and Others Vs. Enercon GmbH and Another

Court : Mumbai

..... . even if part of the disclosure was agreed by the petitioners nos.2 and 3, the disclosure sought by the respondents being contrary to the provisions of limited liability partnership act, 2008 and companies act, could not have been ordered by the majority arbitrators and that also without following agreed procedure under iba rules and contrary to section 27 of the arbitration act. 70 ..... . the arbitral tribunal agreed to make a ruling on the application if filed under section 17 of the said act on 23rd december 2015 ..... . no interim measures could be passed against those limited liability partnerships and other partners of whatsoever nature against them directly or indirectly which would impose any restriction against them from exercising their rights and powers available to them under the provisions of limited liability partnerships act, 2008 or as shareholders of the said private limited company ..... . he submits that majority of the arbitrators have also in the impugned order has made it clear that the said order did not prohibit the partnerships from continuing the payment of interest in relation to any pre-existing loans from independent financial institutions or from making payments towards any costs and expenses of operating any currently held wind farms, provided that such dealing was in the ordinary and proper course of their business .....

Commissioner of Income-tax, West Bengal Vs. Khetan and Co.

Court : Kolkata

Reported in : [1962]45ITR170(Cal)

..... section 30(3) of the partnership act clearly circumstances the maximum limit of a minors liability to one limited to his share and therefore no personal liability or no recurring liability of such a nature as provided in clause 6 of the partnership agreement in this case can be imposed on ..... tribunal expressed the opinion that the deed of partnership expressly stated that the minor was admitted to the benefits of partnership and expressly mentioned that this case was subject to section 30 of the indian partnership act and, therefore, he read clause 5 of the partnership deed as subject to section 30 of the partnership act with the result that he was of the view that clause 5 should be read, so far as the minor was concerned, as a liability for the loss for his share only ..... same principle in this case, therefore, the signature by the minor to the partnership deed cannot make it a contract binding on the minor, just as the mortgage by the minor was held by the privy council not to bind the minor.on the question of minority section 26a of the income-tax act and the rules made thereunder are also relevant for this appeal. ..... arose whether the signature under a power of attorney was enough compliance with rules 2 and 6 and it was held it could not be because the rules enjoined that the partners must personally sign.if the purpose of registration of a firm is kept in view, then there is little scope for misunderstanding these conditions and requirements of section 26a of the income-tax act. .....

M/s. Amritlakshmi Machine Works and Another Vs. The Commissioner of Cu ...

Court : Mumbai

..... we have not in any manner dealt with partnership firm registered under the limited liability partnership act, 2008 and the liability of its partners under section 112(a) of the act. 42. ..... (1) without prejudice to any award of penalty by the adjudicating officer under this act, if any person contravenes any of the provisions of this act [other than section 13, clause (a) of sub-section (1) of [section 18, section 18a], clause (a) of sub-section (1) of section 19, sub-section (2) of section 44 and sections 57 and 58], or of any rule, direction or order made thereunder he shall, upon conviction by a court, be punishable, (i) . . . . (ii) . . . . (2) to 6 . . . ..... penalty is imposable is the correct view only to the following extent: (a) where the show cause notice makes out a case of an offence under section 112(a) of the act read with section 135 (1)(a) of the act, then alone, section 140 of the act is applicable for penalty upon the partner; or (b) where the show cause notice makes out an independent case of abetment by the partner for the act or omission done by the partnership firm which has rendered the goods liable for confiscation under ..... by the referring order of the division bench, the following questions of law are referred for the opinion of the larger bench: (i) whether, under the customs act,1962 and particularly in exercise of the powers conferred by section 112(a) thereof, simultaneous penalties on both the partner and partnership firm can be imposed ? .....

Lalit Kumar Jain Vs. Union Of India

Court : Supreme Court of India

..... . definitions in this code, unless the context otherwise requires, - *** (7) "corporate person" means a company as defined in clause (20) of section 2 of the companies act, 2013 (18 of 2013), a limited liability partnership, as defined in clause (n) of sub-section (1) of section 2 of the limited liability partnership act, 2008 (6 of 2009), or any other person incorporated with limited liability under any law for the time being in force but shall not include any financial service provider; (8) "corporate debtor" means a corporate person who owes a debt to any person ..... power to make rules or regulations, however, must be exercised within the four corners of the ..... it is pointed out that though section 239(1) of the code empowers the insolvency board to make rules to carry out the provisions of the code, those rules cannot define a term that is not defined in the code, as it is likely to result in ..... (supra), the extension of rent restriction ordinances was in question; the court did not apply the rule in jatindra nath gupta (supra), and ultimately held that the true position was that the rajpramukh in his character as the authority on whom power was conferred under section 3 of the ordinance that the rajpramukh issued the impugned notification, and not as the legislative ..... . delegated legislation, however, involves delegation of rule-making power of legislation and authorises an executive authority to ..... latter involves delegation of rule making power which constitutionally may be .....

J. Seetha Rama Sastry Vs. State of Karnataka and Another

Court : Karnataka

Reported in : ILR1991KAR3053; [1993]199ITR588(KAR); [1993]199ITR588(Karn)

..... registration is required only for certain limited purposes and non-registration affects the procedural rights of the partners, as per section 69 of the partnership act; even here, the firm or the partners may have the effect of non-registration removed, by getting it registered at ..... but, does this mean that the citizens of this country should always surrender their valuable fundamental right to equality in favour of the state's power to tax should the court hesitate to strike down a fiscal law solely on the ground that the revenue of the state would suffer should the role of the court as the guardian ..... of formation of a partnership, its constitution, the rights and liabilities of the partners and their relationship to the firm and in the mode of carrying on of the trade, non-registration of the firm under the partnership act has no relevancy ..... person' and not an entity recognized for certain purposes only, as in the income-tax act or sales tax act; the business of the firm is the business of each individual partner and each of them is deemed to be carrying on the business to make profits and, therefore, the unit of taxation can be the individual partner and that the general clause act, 1987, is applicable subject to the context; learned consul for the revenue further contended ..... the principle underlying the guarantee of article 14 is not that the same rule of law should be applicable to all persons within the indian territory or that the same remedies should be made available to .....

Commissioners for Her Majesty's Revenue and Customs (Appellant) Vs. To ...

Court : UK Supreme Court

..... section 118za(1) (as substituted by fa 2001) provides: "for the purposes of the tax acts, where a limited liability partnership carries on a trade, profession or other business with a view to profit (a) all the activities of the partnership are treated as carried on in partnership by its members (and not by the partnership as such), (b) anything done by, to or in relation to the partnership for the purposes of, or in connection with, any of its activities is treated as done by, to or in relation to the members as partners, and (c) the property of the partnership is treated as held by the members as partnership ..... the judge was right to emphasise that the transaction was the subject of tough negotiation between mcashback and tower (whose founder members stood to make a large gain, when the investor members' rights had been fully satisfied, if the m rewards scheme was as successful as both sides hoped it ..... the last-mentioned subsection provides: "the general rule is that expenditure is qualifying expenditure if (a) it is capital expenditure on the provision of plant or machinery wholly or partly for the purposes of the qualifying activity carried on by the person incurring the expenditure, and (b) the person ..... that llp2 acquired the right to the full economic benefit of the agreement is a powerful, and, to my mind, a determinative feature of this appeal. ..... whole of llp1's claim on the separate ground that it had not been trading during the 2003-4 tax year: [2008] stc 3366, 3369-3411. .....

Swiss Ribbons Pvt. Ltd. Vs. Union of India

Court : Supreme Court of India

..... amendments in the indian partnership act, 1932, the central excise act, 1944, customs act, 1962, the income tax act, 1961, the recovery of debts due to banks and financial institutions act, 1993, the finance act, 1994, the securitisation and reconstruction of financial assets and enforcement of security interest act, 2002, the sick industrial companies (special provisions) repeal act, 2003, the payment and settlement systems act, 2007, the limited liability partnership act, 2008, and the companies act, 2013.5. the code ..... . forthwith proceed ex-parte 72 a conjoint reading of all these rules makes it clear that at the stage of the adjudicating authority s satisfaction under section 7(5) of the code, the corporate debtor is served with a copy of the application filed with the adjudicating authority and has the opportunity to file a reply before the said authority and be heard by the ..... essential technical (24a) related party , in relation to an individual, means (a) a person who is a relative of the individual or a relative of the spouse of the individual; (b) a partner of a limited liability partnership, or a limited liability partnership or a partnership firm, in which the individual is a partner; (c) a person who is a trustee of a trust in which the beneficiary of the trust includes the individual, or the terms of the trust confers a power on the trustee which may be exercised for the benefit of the individual; (d) a private company in which the individual is a director and holds .....

Gunjan Sinha JaIn and Others Vs. Registrar General, High Court of Delh ...

Court : Delhi

..... knowledge of a candidate in respect of the limited liability partnership act, 2008 which, admittedly, was not part of ..... xxxx xxxx xxxx xxxx (3) an application for setting aside may not be made after three months have elapsed from the date on which the party making that application had received the arbitral award or, if a request had been made under section 33, from the date on which that request had been disposed of by the arbitral tribunal: provided that if the court is satisfied that the ..... .: (2010) 10 scc 479 wherein it observed:- it is trite that section 34 ipc does not constitute a substantive offence, and is merely in the nature of a rule of evidence, and liability is fastened on a person who may have not been directly involved in the commission of the offence on the basis of a pre-arranged plan between that ..... djs exam , the candidates were to be tested for :- (1) their general knowledge and aptitude, (2) their power of expression and flair in english, (3) their knowledge of objective type legal problems and their solutions covering: (i) the constitution of india, (ii) code of civil procedure, (iii) code of criminal procedure, (iv) indian penal code, (v) contract act, (vi) partnership act, (vii) principles governing arbitration law, (viii) evidence act, (ix) the specific relief act and (x) the limitation act ..... may exceed the figure of 230, this is the only way, according to us, to harmonize the rules with the competing claims of the candidates in a just and fair manner .....