Demand in respect of firm raised in the name of Partner - In the ...

Income Tax

September 22, 2020

Demand in respect of firm raised in the name of Partner - In the light of the legal nature of a partnership firm, a demand raised on the managing partner can never be vis ualised as a wrong fixation of liability. It can only be seen as a demand made on the person who is managing the affairs of the firm, for and on behalf of all its partners. Such a demand does not in any way amount to a conclusion that the claim against the other partners has been given up, since the liability of the partners is joint and several. - HC

View Source

← Previous Next →

Demand in respect of firm raised in the name of Partner - In the ...

Income Tax

September 22, 2020

You may also like:

Disallowance of interest expenses – partners are entitled to hold the properties belonging to the partnership firm in their individual name, provided it is explicitly...

Validity of SCN - Service on partners instead of firm - the renting services provided by the partnership firm being the owner of the property - the show cause...

Dissolution of partnership - taxability of sum received by a partner - Any amount paid to a partner as his share on dissolution of the partnership firm cannot be...

In respect of a co-ownership property leased to the partnership firm cannot be claimed as self-occupied property merely because partner is occupying the same

Demand of service tax on partners services to partnership firm - separate identity - mutuality of services - there cannot be a service provider – service recipient...

Changes in GST - Partnership firm or a firm includes LLP ( Limited liability Partnership) for the purposes of levy (including exemption therefrom) of GST on legal services.

Receipt of amount as goodwill on retirement - right of partner in the partnership firm - capital asset u/s 2(14) - extinguishment of such right in the firm - HC...

Transfer of goodwill to partners - reconstruction of firm - the partnership firm did not cease to hold the property - its right to the property is not extinguished - no...

Vicarious liability of partner of the firm - separate identity of partnership firm - merely the petitioner running a firm, but it is not a legal entity and it cannot be...

Demand of service tax of the dissolved partnership firm from the erstwhile partners - Section 25 of the Partnership Act clearly mandates that all the partners are...

Quick Updates: