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Supreme Court Allows Firm's Registration Under Section 26A of Income-tax Act, 1922 as Partnership Deed Read Reasonably Specified Equal Shares. Specifying Equal Division Among Partners Sufficiently Indicated One-Third Share Each, Satisfying Statutory Requirement for Registration.

Three brothers entered into a partnership in 1949 for doing business. The partnership deed, in clause 3, allotted equal capital to each partner, and c...

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Bombay High Court Upholds Invalidity of Partnership Between HUF Karta and Its Member in Income Tax Registration Case. Partnership Deed Between Karta and Coparcener of Same HUF Held Void as No Valid Contract Possible Under Section 4 of Indian Partnership Act, 1932.

The case pertains to an Income Tax Reference under Section 256(1) of the Income Tax Act, 1961, arising from the order of the Income Tax Appellate Trib...

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Bombay High Court Dismisses Writ Petition Challenging Dismissal of Suit by Partner of Unregistered Firm Under Section 69 of Indian Partnership Act, 1932. Suit for Accounts and Injunction by Partner of Unregistered Firm Held Not Maintainable.

The petitioner, Chandrayya Mutwayya Irabatti, was the original plaintiff in Special Civil Suit No.139 of 1987 filed before the III Joint Civil Judge, ...

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Bombay High Court Dismisses Petition Seeking to Treat Suit as Filed on Date of Partnership Registration — Defect of Unregistered Firm Cannot Be Cured by Subsequent Registration Under Section 69(2) of Indian Partnership Act, 1932.

The petitioner, Kolhapur Ice & Cold Storage Co., a partnership firm, filed Special Civil Suit No.200 of 1997 before the 2nd Joint Civil Judge, Senior ...

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Bombay High Court Dismisses Suit by Unregistered Partnership Firm Under Section 69 of Indian Partnership Act, 1932. Suit for Declaration and Injunction Barred as Firm Not Registered, No Exception for Suits Relating to Partnership Property Applies.

The plaintiffs, seven individuals, filed a suit seeking a declaration that they are partners of the firm Laxmi Developers and for an injunction restra...