Supreme Court · 1975 INSC 239 · Decided 6 October 1975
Mandyala Govindu & CO. v. Commissioner of Income Tax, Andhra Pradesh
- Court
- Supreme Court of India
- Citation
- 1975 INSC 239 · [1976] 2 S.C.R. 131
- Case number
- CIVIL APPEAL No. 63/1971
- Decided
- 6 October 1975
- Bench
- V.R. KRISHNA IYER, A.C. GUPTA, S. MURTAZA FAZAL ALI (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Contract Act Section 253(2); Income Tax Act Section 26A, 66(1)
Headnote
B Registration of firms-Income Tax Act, 1922-Sec. 26A-Whether share of parlllers in loss to be mentioned in the Partners/zip Deed-Sec. 13 (b) of Part­ ners/zip Act-In the aibsence of contract regarding share in loss-Whether to be borne equally or proportionate to profit. · The appellant and one minor admitted to the benefits of the partnership. One of the partners has 31 % share and the remaining two partners and the minor have 23 % share each in the profit of the firm but the partnership deed is silent about their shares in the losses. Clauses 9 of the partnership deed
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)