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Demand of duty – Suo-moto credit taken by appellant - the amount paid by mistake cannot be termed as duty in the case on hand - demand set aside. - Tri Import of IPR - Duty of customs or service tax - Import of imported drawings and designs along with the plant and machinery and capital goods - levy of service tax upheld - Tri Process of electroplating - process undertaken by the appellant amounts to manufacture and therefore they are not liable to pay service tax - Tri Appropriate rate of tax - Works Contract Service - 4% or 2% - the applicable rate of tax would be the rate which was prevalent prior to 01.03.2008 - instruction dated 28.04.2008 is invalid - HC Section 40(a) (ia) would cover not only to the amounts which are payable as on 31th March of a particular year but also which are payable at any time during the year. - HC The proceedings in the Parliament, its debates and even the speeches made by the proposer of a bill are ordinarily not considered as relevant or safe tools for interpretation of a statute. - HC Disallowance u/s 40(a)(ia) - TDS - the decision of the Tribunal in the case of M/s. Merilyn Shipping & Transports vs. ACIT (2012 (4) TMI 290 - ITAT VISAKHAPATNAM), does not lay down correct law - HC Addition made on estimating the consumption of electricity, production, sale and profit thereon is not sustainable. - Tri Exemption u/s 10(37) - agricultural land - Merely because the assessee was not residing close to the land or was also pursuing some other business would not by itself be sufficient to hold that the land was not used for agricultural purposes by the assessee. - HC EOU - If the interest expenditure is less or the interest income is more then the difference of excess interest received by the assessee is to be reduced while calculating the deduction under Section 10B. - Tri Disallowance of interest, DEMAT charges, Membership Subscription out of short term capital gain - disallowance so made by the AO is pre-mature - Tri Addition u/s 69B - valuation - unaccounted 5 paintings, Branded watches & 14 items of house-hold items & Melectronic goods ie TVs, Music Systems, ACs etc - absurd assessment of value of impugned items is not appreciable - Tri Section 50C applies to the seller i.e. transferor of the capital asset being land or building or both - the transferee or the purchaser is outside the scope of these provisions - Tri Expenditure incurred on play ground - leasehold land - One day, the leased land has to go back to the MHADA. - the expenditure constitutes revenue expenditure - Tri Misleading advertisements as regards issue of buy-back as well as bonus shares - Direction to SEBI to launch an investigation into the alleged misleading and/or fraudulent advertisement by VCL no doubt is acceptable as SEBI is duly authorized by the SEBI Act, 1992 to do so - Tri Cenvat Credit - allegation of non receipt of inputs - No manufacturer can be expected to keep documentary evidences of its clandestine activities. - demand confirmed - Tri Rejection of Refund claim - unjust enrichment - In case, department still persists that the element of excise duty has been recovered by the appellant from the Railways then it should have further conducted investigated the verifications to refute the documents submitted by the appellants. - Tri CENVAT credit on capital goods - steel plates and M.S.Channels used in the fabrication of chimney would fall within the ambit of “capital goods“ - Tri    Left Stop Right
Partnership Firms

Indian Partnership Act, 1932

Show Chapter Wise
No. Title
Short title, extent and commencement
 
Definitions
 
Application of provisions of Act 9 of 1872
 
Definitions of "partnership", "partner", "firm" and "firm name"
 
Partnership not created by status
 
Mode of determining existence of partnership
 
Partnership at will
 
Particular partnership
 
General duties of partners
 
Duty to indemnify for loss caused by fraud
 
Determination of rights and duties of partners by contract between the partners
 
The conduct of the business
 
Mutual rights and liabilities
 
The property of the firm
 
Application of the property of the firm
 
Personal profits earned by partners
 
Rights and duties of partners after a change in the firm
 
Partner to be agent of the firm
 
Implied authority of partner as agent of the firm
 
Extension and restriction of partner's implied authority
 
Partner's authority in an emergency
 
Mode of doing act to bind firm
 
Effect of admissions by a partner
 
Effect of notice to acting partner
 
Liability of a partner for acts of the firm
 
Liability of the firm for wrongful acts of a partner
 
Liability of firm for misapplication by partners
 
Holding out
 
Rights of transferee of a partner's interest
 
Minors admitted to the benefits of partnership
 
Introduction of a partner
 
Retirement of a partner
 
Expulsion of a partner
 
Insolvency of a partner
 
Liability of estate of deceased partner
 
Rights of outgoing partner to carry on competing business
 
Right of outgoing partner in certain cases to share subsequent profits
 
Revocation of continuing guarantee by change in firm
 
Dissolution of a firm
 
Dissolution by agreement
 
Compulsory dissolution
 
Dissolution on the happening of certain contingencies
 
Dissolution by notice of partnership at will
 
Dissolution by the court
 
Liability for acts of partners done after dissolution
 
Rights of partners to have business wound up after dissolution
 
Continuing authority of partners for purposes of winding up
 
Mode of settlement of accounts between partners
 
Payment of firm debts and of seprate debts
 
Personal profits earned after dissolution
 
Return of premium on premature dissolution
 
Rights where partnership contract is rescinded for fraud or misrepresentation
 
Right to restrain from use of firm name or firm property
 
Agreements in restraint of trade
 
Sale of goodwill after dissolution
 
Power to exempt from application of this Chapter
 
Appointment of Registrars
 
Application for registration
 
Registration
 
Recording of alterations in firm name and principal place of business
 
Noting of closing and opening of branches
 
Noting of changes in names and addresses of partners
 
Recording of changes in and dissolution of a firm
 
Rectification of mistakes
 
Amendment of Register by order of Court
 
Inspection of Register and filed documents
 
Grant of copies
 
Rules of evidence
 
Effect of non-registration
 
Penalty for furnishing false particulars
 
Power to make rules
 
Mode of giving public notice
 
Omitted
 
Savings
 
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