presented for registration. Dissolution of partnership, whether it
was compulsorily registrable, when the partnership assets included
immovable property, was a vexed question which was finally ... none could independently deal with
those properties. The properties so acquired and held in the name
of the partnership firm, which remained under
interest in the future and further appreciation of the property. When fresh partnership deed was executed on 1.10.92, no such clause giving the appellant ... Vide clause No. 8 at pg. 7 of the partnership deed, appreciations in the property owned by the firm belonged to the appellant company
appellant contended that on
dissolution of the partnership firm under Section 48 of the Partnership Act,
1932 , the assets of the firm, including any sums ... appellant for claiming depreciation on the ground that on
dissolution of partnership, the property allotted to the share of the assessee
has not been registered
that the said property is part of property of Atlas Apartments Co-operative Housing Society Limited, which is a co-partnership Society. The flat ... read with Section 123 of the Transfer of Property Act, 1882 being the gift of immovable property.
11. To get over this position, Counsel
memorandum itself does not create or extinguish any right in immovable properties and, therefore, does not fall within the mischief of Section ... share of a partner in the assets of the partnership which has immovable property and movable property and that the assignment of the share does
properties and a family arrangement merely acknowledges and defines what that title is."
5. The assessee is a partnership firm and consists
family property is also proved from Ex. DW1/1 which is the copy of deed of dissolution dated 1-12-1994 of partnership firm ... assigned all the shares, other rights, title and interest in the dissolved partnership including goodwill, fixtures, fittings, plant and machinery etc. It has also been
note that the real consideration in a family arrangement relating to properties is not the sacrifice of the right but the abandonment of future claim ... properties and a family arrangement merely acknowledges and defines what that title is."
5. The assessee is a partnership firm and consists
Bench was with regard to the taxability of income from the house property. The said house was transferred by a Mohamdan to his wife ... instrument as required under Section 54 of the Transfer of Property Act, if immovable property transferred is valued more than at Rs. 100/-. We find
Full Bench was with regard to the taxability of income from house property. The said house was transferred by a Mohammedan to his wife ... required under section 54 of the Transfer of Property Act, if the immovable property transferred is valued more than at Rs. 100. We find hardly
