Court : Mumbai
Reported in : 2004(2)ALLMR465; 2004(4)BomCR386
..... in the circumstances, in my considered view, it is not open for this court to permit the respondents (state of maharashtra) for the first time, to contend before this court that the indenture in question dated 22nd june 1978 is a 'grant' and, therefore, no registration of that document was necessary in view of the provisions of section 17(2) of the registration act, and that on execution of the said document, with immediate affect, the transfer has bean affected in favour of the petitioner company and the property is no longer property of the union. 15. ..... tulzapurkar contends that mere mentioning of the name of the petitioner company in the vii x xii extracts as occupants does not create any right, title and interest in the petitioner company, nor it would affect the right, title and interest of the union of india in respect of the subject lands in any manner and if the lands continue to be owned by the union of india, even if the petitioner company is occupant, that cannot be the basis to demand non-agricultural assessment as that demand is qua the lands and not the person in possession. ..... 1932 lah 655, bahawal v. .....
Tag this Judgment!Court : Mumbai
Reported in : 2004(1)ARBLR540(Bom); 2004(2)BomCR719; 2004(1)MhLj966
..... said so in my opinion the reliefs being covered by the arbitral clause and considering section 8 of the arbitration and conciliation act, 1996 the parties are directed to proceed to arbitration, of the disputes as set out in the plaint and the prayer clauses thereto by an arbitrator to be appointed in terms of the agreement between the parties as contained in the arbitral clause.8. ..... court, therefore, would retain jurisdiction to try the suit on the ground that section 44(g) of the partnership act that dissolution of a partnership on the ground that it is just and equitable, is specifically the power of the court and not of the arbitrator. ..... clause 15 of the deed of partnership reads as under:--'all disputes and differences arising between the partners or question in connection with the partnership or this deed shall be referred to the arbitrators one to be appointed by each party or by his/her personal representative under the provisions of the indian arbitration act, 1940 or any statutory modifications or re-enactment thereof for the time being in ..... heard the learned counsel the first question is whether the averments in the affidavit in reply by the defendants can be treated as an application under section 8 of the arbitration and conciliation act, 1996 ..... the language of section 44 of the partnership act would show that the suit filed at the instance of a partner, the court may dissolve a firm on various grounds which are given therein, including on the ground of it being just and .....
Tag this Judgment!Court : Mumbai
Reported in : 2004(2)BomCR801; (2004)187CTR(Bom)162; [2004]265ITR346(Bom)
..... it was answered in the affirmative as when the assessee transferred his shares to the partnership firm he received no consideration within the meaning of section 48 of the income-tax act, 1961, nor did any profit or gain accrue to him for the purpose of section 45 of the act, because the consideration received by the assessee on the transfer of his shares to the partnership firm does not fall within the contemplation of section 48 and no profit or gain can be said to arise for the purposes of the act. ..... to all the partners constituting the firm, though the partnership firm may possess a personality distinct from the persons constituting it and, therefore, on dissolution, as the firm has no separate rights of its own in the partnership assets, the consequence of distribution, division or allotment of assets of the partners which flows upon dissolution after discharge of liabilities is nothing but a mutual adjustment of rights between the partners and there is no question of any extinguishment of the firm's rights in the partnership assets amounting to a transfer of assets within the meaning of section 2(47) of the act.14. ..... the gujarat high court had taken the view that when a retired partner receives a share of amount calculated on the value of the net goodwill of the firm there was no transfer of interest of the partner in the goodwill and no part of the amount received by him would be assessed as capital gain under section 45 of the income-tax act, 1961.13. .....
Tag this Judgment!Court : Mumbai
Reported in : 2003(4)ALLMR77; 2003(6)BomCR594; 2004(1)MhLj71
..... the petitioner is a partnership firm registered under the indian partnership act, 1932. ..... viscous liquid produced in the final stage of the manufacture of gur or sugar containing, in solution or suspension, sugars which can be fermented, and includes the solid form of such liquid and also any product formed by the addition to such liquid or solid of any ingredient which does not substantially alter the character of such liquid or solid; but does not include any article which the state government may, by notification in the official gazette, declare not to be molasses,for the purpose of this act.'10. ..... it was also stated by the commissioner of state excise that he has been empowered to discharge the responsibility under the act and has taken the action 'in order to check the activities of illicit distillation, when affects public health and also causes enormous losses in revenue to the state exchequer on account of sale of such illicitly and illegally produced liquor'. ..... it was also stated by the commissioner that samples of black jaggery seized from the petitioners were sent for analysis to the laboratory of mumbai municipal corporation, and the laboratory opined that the samples conform to the standard of black jaggery (molasses) as defined in clause (28) of section 2 of the act.32. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2004)85TTJ(Mum.)821
..... v.cit (1957) 32 itr 664 (sc), wherein it has been held that the mere fact that a company has within its objects the dealing in investment in shares, does not give to the company the characteristics of a dealer in shares, but if other circumstances are proved, it may be relevant for the purpose of determining the nature of the activities of the company.the learned departmental representative also referred to the decision of the madras high court in the case of ace investments (p) ltd v. ..... . cit (1956) 29 itr 535 (sc), the hon'ble supreme court held that section 4 of the indian partnership act, 1932, clearly requires the presence of three elements to constitute a firm namely (i) that there must be an agreement entered into by two or more persons; (ii) that the agreement must be to share profits of business; and (iii) that the business must be carried on by all or any of those persons acting for all ..... . therefore, the facts of the above case of the madras high court are not relevant to the facts of the present case ..... . (supra), the madras high court has held "that the mere presence of the objects clause would not be sufficient to hold that the assessee was carrying on moneylending business ..... . the madras high court has held that "when there is an unconditional contract for sale of specific goods in a deliverable state, property in goods passes to buyer when contract is made and it is immaterial whether the time of payment of the price or the time for delivery of goods or both is postponed .....
Tag this Judgment!Court : Mumbai
Reported in : 2004(1)ARBLR79(Bom); 2003(6)BomCR787
..... be restricted to the death of the original tenant, but shall apply ..... ;(ii) in relation to any permission let for the purposes of education, business trade or storage, when the tenant dies, whether the death has occurred before or after the commencement of the said act, any member of the tenant's family using the premises for the purposes of education of carrying on business, trade or storage in the premises, with the tenant at the time of his death, or in the absence of such member, any heir of the deceased tenant, as may be decided in default of agreement by the court.explanation:- the provisions of the clause for transmission of tenancy, shall not ..... the plea of partnership was given up only because the wfas was an unregistered partnership firm and the maharashtra amendment to section 69 of the partnership act, 1932 precluded the respondents from pursuing from their rights in respect of an unregistered firm. .....
Tag this Judgment!Court : Mumbai
Reported in : 2003(3)ALLMR98; 2003(6)BomCR423
..... shri krishna lal karla , that was a decision be based on the provisions of clause (iv) of section 7 of the court fees act, which gives the right to the plaintiffs in any of the suit mentioned in the clauses of that paragraph to place any value that he likes for the relief he seeks, subject to, however, to any rule made under section 9 of the suits valuation act and the court has no power to interfere with the plaintiff's valuation. ..... in my opinion, therefore, the location, the degree of control exercised by the head office the nature of activities and the goods dealt in, the character and status of the personnel and the number of branches will be determining factor in considering what system of accounting is adopted so as to find out whether the branch office though of a partnership firm is absolutely independent or the cord between the principal office and the branch office is yet not cut, the state of factual position, will decide the conferment of territorial jurisdiction on a particular court.29. ..... saraf, the learned judge committed a glaring error in assuming the pecuniary jurisdiction in the matter thereby forgetting the fact that from the pleadings in the plaint itself and the tenor thereof, was enough to demonstrate that the plaintiff intentionally undervalued the suit so as to bring the suit within the pecuniary jurisdiction of the court in which the suit is filed. mr. ..... (2) air 1932 bom. .....
Tag this Judgment!Court : Mumbai
Reported in : 2003(161)ELT122(Bom)
..... petitioners are a partnership firm registered under the partnership act, 1932. ..... or more, falling within chapter 37 of the first schedule to the customs tariff act, 1975 (51 of 1975), when imported into india, from so much of that portion of the duty of customs leviable thereon under the said first schedule as in excess of the amount calculated at the rate of 60 per cent ad valorem, subject to the following conditions :-(i) the importer undertakes conversion of the said jumbo rolls by slitting or confectioning into finished products;(ii) the importer holds an industrial licence under the industries (development and regulation) act, 1951 (65 of 1951), for slitting ..... secondly, the classification between the importers with industrial licence and without industrial licence is an intelligible classification and if the government on the basis of the past experience takes a policy decision and think it proper that the benefit of the exemption should be restricted to the importers who are governed by the provisions of the industries (development and regulation) act, 1951 and grants time to the importers to obtain industrial licence or carry on business licence, no fault can be found with such a notification. .....
Tag this Judgment!Court : Mumbai
Reported in : 2003(5)BomCR584
..... petitioners are a partnership firm registered under the partnership act, 1932. ..... or more, falling within chapter 37 of the first schedule to the customs tariff act, 1973 (51 of the 1975), when imported into india, from so much of that portion of the duty of customs leviable thereon under the said first schedule as in excess of the amongst calculated at the rate of 60 per cent ad valorem, subject to the following conditions:---(i) the importer undertakes conversion of the said jumbo rolls by slitting or confectioning into finished products;(ii) the importer holds an industrial licence under the industries (development and regulation) act, 1951 (65 of 1951), for slitting ..... secondly, the classification between the importers with industrial licence and without industrial licence is an intelligible classification and if the government on the basis of the past experience takes a policy decision and think it proper that the benefit of the exemption should be restricted to the importers who are governed by the provisions of the industries (development & regulation) act, 1951 and grants time to the importers to obtain industrial licence or carry on business licence, no fault can be found with such a notification. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2003)86ITD193(Mum.)
..... of opinion between the members constituting the division bench, the hon'ble president has referred, under section 255(4) of the it act, 1961, the following points of difference to me as a third member to resolve the controversy : "(1) whether the assessee had written off a debt within the period of less than three months at the end of the previous year from the date of advance or more than two years from the date of advance (2) whether the assessee is entitled to deduction in respect of the claim of a debt notwithstanding the uncontroverted finding of the ao that the claim was ..... in support of his view, the learned jm relied on the decision of the madras high court in amarchand sobhachand v. ..... this case was originally decided by the madras high court, which is reported in (1965) 56 itr 594 (mad) (supra). ..... this finding is sought to be supported by the decision of the madras high court in the case of amarchand sobhachand v. ..... the amendment brought into effect from 1st april, 1989, by the direct tax laws (amendment) act, 1987, gives expression to the views expressed by the privy council as far back as in 1932. .....
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