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

Case Laws 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 ...

Case Laws Income Tax

September 22, 2020

You may also like:

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

Transfer of an industrial undertaking from urban to rural area by a partnership firm qualifies for exemption u/s 54G of the Income Tax Act. The assessee, a partner in...

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...

Characterization of income - consideration received by the partner of a firm upon retirement from the firm - retirement benefit - any money received by the partner upon...

Imposition of penalty - If any liability arises against the partnership firm i.e. shifted on partners of partnership firm in the sharing ratio of the partners,...

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...

In deposit of trading receipts of the firm in the bank account of the partner, the assessee has not violated any of the provisions of the Income Tax Act, even if it may...

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...

Short Term Capital Gain - conversion of the Partnership Firms into Companies - Additions in the hands of partners - CIT (Appeals) correctly deleted the additions on...

Taxing the right person - land transaction done by the partnership firm - assessment in the hands of partners or partnership firm - sale consideration received by...

Offense punishable under Section 138 of the Negotiable Instruments Act - it is very difficult for the Court to take a view that a partnership firm for the purpose of...

Dishonor of Cheque - A proprietorship firm is neither a Company, nor a partnership firm. It is merely a business name. Although even a partnership firm is not a juristic...

Short term capital gain - capital gain arose from transfer of land to the partnership firm by way of capital contribution as the assets was converted to Fixed Capital...

Characterization of interest income from the partnership firm as business income - Presumptive income @8% u/s 44AD - Interest and salary received by the assessee from...

Attachment of bank account - Principles of natural justice - bank account number indicated in the order of attachment pertains to an account of Another Partnership firm...

Quick Updates: