PARTNERSHIPPartnership is the second stage in the evolution of forms of business

organization. It meansthe association of two or more persons to carry on as coowners, i.e. a business for profit. Thepersons who constitute this organization are
individually termed as partners and collectivelyknown as firm; and the name under
which their business is conducted is called "The FirmName".In ordinary business the
number of partners should not exceed 20, but in case of bankingbusiness it must
nor exceed 10. This type of business organization is very popular
inPakistan.DEFINITION1. According to Section 4 of Partnership Act, 1932"Partnership
is the relation between persons who have agreed to share the profits of abusiness
carried on by all or any of them acting for all."2. According to Mr. Kent"A contract of
two or more competent persons to place their money, efforts, labour and skills,some
or all of them, in a lawful commerce or business and to divide the profits and bear
thelosses in certain proportion."Structural Diagram:AssociationProfit & LossMoney,
LabourPARTNERSHIPAnd Other SkillsLawful BusinessCHARACTERISTICSThe main
characteristics of partnership may be narrated as under:1. AgreementAgreement is
necessary for partnership. Partnership agreement may be written or oral. It isbetter
that the agreement is in written form to settle the disputes.2. AuditIf partnership is
not registered, it has no legal entity. So there is no restriction for the audit
ofaccounts.23imgIntroduction to Business MGT 211VU3. AgentIn partnership every
partner acts as an agent of another partner.4. BusinessPartnership is a business unit
and a business is always for profit. It must not include club orcharitable trusts, set
up for welfare.5. CooperationIn partnership mutual cooperation and mutual
confidence is an important factor. Partnership cannot take place with cooperation. 6.
Dissolution Partnership is a temporary form of business. It is dissolved if a partner
leaves, dies or declared bankrupt. 7. Legal Entity If partnership is not registered, it
has no legal entity. Moreover, partnership has no separate legal entity from its
members and vice versa. 8. Management In partnership all the partners can take
part or participate in the activities of business management. Sometimes, only a few
persons are allowed to manage the business affairs. 9. Number of Partners In
partnership there should be at least two partners. But in ordinary business the
partners must not exceed 20 and in case of banking business it should not exceed
10. 10. Object Only that business is considered as partnership, which is established
to earn profit. 11. Partnership Act In Pakistan, all partnership businesses are running
under Partnership Act, 1932. 12. Payment of Tax In partnership, every partner pays
the tax on his share of profit, personally or individually. 13. Profit and Loss
Distribution The distribution of profit and loss among the partners is done according
to their agreement. 14. Registration Many problems are created in case of
unregistered firm. So, to avoid these problems partnership firm must be registered.
15. Relationship Partnership business can be carried on by all partners or any of
them can do the business for all. 16. Share in Capital According to the agreement,
every partner contributes his share of capital. Some partners provide only skills and
ability to become a partner of business and earn profit. 17. Transfer of Rights In
partnership no partner can transfer his shares or rights to another person, without
the consent of all partners. 24 img Introduction to Business MGT 211 VU 18.
Unlimited Liability In partnership the liability of each partner is unlimited. In case of
loss, the private property of the partners is also used up to pay the business debts.
ADVANTAGES AND DISADVANTAGES OF PARTNERSHIP ADVANTAGES OF
PARTNERSHIP Following are the advantages of partnership: 1. Simplicity in
Formation This type of business of organization can be formed easily without any
complex legal formalities. Two or more persons can start the business at any time.
1

Its registration is also very easy. 2. Simplicity in Dissolution Partnership Business

can be dissolved at any time because of no legal restrictions. Its dissolution is easy
as compared to Joint Stock Company. 3. Sufficient Capital Partnership can collect
more capital in the business by the joint efforts of the partners as compared to sole
proprietorship. 4. Skilled Workers As there is sufficient capital so a firm is in a better
position to hire the services of qualified and skilled workers. 5. Sense of
Responsibility As there is unlimited liability in case of partnership, so every partner
performs his duty honestly. 6. Satisfaction of Partners In this type of business
organization each partner is satisfied with the business because he can take part in
the management of the business. 7. Secrecy In partnership it is not compulsory to
publish the accounts. So, the business secrecy remains within partners. This factor
is very helpful for successful operation of the business. 8. Social Benefit Two or more
partners with their resources can build a strong business. This factor is very helpful
in solving social problems like unemployment. 9. Expansion of Business In this type
of business organization, it is very easy to expand business volume by admitting
new partners and can borrow money easily. 10. Flexibility It is flexible business and
partners can change their business policies with the mutual consultation at any
time. 11. Tax Facility Every partner pays tax individually. So, a firm is in a better
position as compared to Joint Stock Company. 25 img Introduction to Business MGT
211 VU 12. Public Factor Public shows more confidence in partnership as compared
to sole proprietorship. If a firm is registered, people feel no risk in creating relations
with such business. 13. Prime Credit Standing The liabilities of partners are
unlimited, so the banks and other financial institutions provide them credit easily.
14. Minority Protection In partnership all policy matters are decided with consent of
each partner. This gives protection to minority partners. 15. Moral Promotion
Partnership is the best business for small investors. It promotes moral courage of
partners. 16. Distribution of Work There is distribution of work among the partners
according to their ability and experience. This increases the efficiency of a firm. 17.
Combined Abilities Every partner possesses different ability, which helps in running
the business effectively, when combined together. 18. Absence of Fraud In
partnership each partner can look after the business activities. He can check the
accounts. So, there is no risk of fraud. DISADVANTAGES OF PARTNERSHIP The
disadvantages of partnership are enumerated one by one as under: 1. Unlimited
Liability It is the main disadvantage of partnership. It means in case of loss,
personal property of the partners can be sold to pay off the firm's debts. 2. Limited
Life of Firm The life of this type of business organization is very limited. It may come
to an end if any partner dies or new partner enters into business. 3. Limited Capital
No doubt, in partnership, capital, is greater as compared to sole proprietorship, but
it is small as compared to Joint Stock Company. So, a business cannot be expanded
on a large scale. 4. Limited Abilities As financial resources of partnership are limited
as compared to Joint Stock Company, so it is not possible to engage the services of
higher technical and qualified persons. This causes the failure of business, sooner or
later. 5. Limited number of Partners In partnership, the number of partners is
limited, so the resources are also limited. That is why business cannot expand on
large scale. 6. Legal Defects There are no effective rules and regulations to control
the partnership activities. So, it cannot handle large-scale production. 26 img
Introduction to Business MGT 211 VU 7. Lack of Interest Partners do not take
interest in the business activities due to limited share in profit and limited chances
of growth of business. 8. Lack of Public Confidence As there is no need by law to
publish accounts in partnership, so people lose confidence and avoid dealing and
2

entering into contract with such firm. 9. Lack of Prompt Decision In partnership all
decisions are made by mutual consultation. Sometimes, delay in decisions becomes
the cause of loss. 10. Lack of Secrecy In case of misunderstandings and disputes
among the partners, business secrets can be revealed. 11. Chances of Dispute
among Partners In partnership there are much chances of dispute among the
partners because all the partners are not of equal mind. 12. Expansion Problem
Partnership business may not be expanded due to limited number of partners,
limited capital and unlimited liability. 13. Frozen Investment It is easy to invest
money in partnership but very difficult to withdraw it. 14. Risk of Loss There is a risk
of loss due to less qualified and less experienced people. 15. Transfer of Rights In
partnership no partner can transfer his share without the consent of all other
partners. CONCLUSION From the above-mentioned findings, we come to this point
that despite the above disadvantages, partnership is an important from of business
organization. This is because its formation is very easy and due to unlimited
liabilities, partners take great interest in business, because in case of loss they are
personally responsible. 27
Table of Contents:
INTRODUCTION:CONCEPT OF BUSINESS, KINDS OF INDSTRY, TYPES OF TRADE
ORGANIZATIONAL BOUNDARIES AND ENVIRONMENTS:THE ECONOMIC
ENVIRONMENT
BUSINESS ORGANIZATION:Sole Proprietorship, Joint Stock Company, Combination
SOLE PROPRIETORSHIP AND ITS CHARACTERISTICS:ADVANTAGES OF SOLE
PROPRIETORSHIP
PARTNERSHIP AND ITS CHARACTERISTICS:ADVANTAGES AND DISADVANTAGES OF
PARTNERSHIP
PARTNERSHIP (Continued):KINDS OF PARTNERS, PARTNERSHIP AT WILL
PARTNERSHIP (Continued):PARTNESHIP AGREEMENT, CONCLUSION, DUTIES OF
PARTNERS
ORGANIZATIONAL BOUNDARIES AND ENVIRONMENTS:ETHICS IN THE WORKPLACE,
SOCIAL RESPONSIBILITY
JOINT STOCK COMPANY:PRIVATE COMPANY, PROMOTION STAGE, INCORPORATION
STAGE
LEGAL DOCUMENTS ISSUED BY A COMPANY:MEMORANDUM OF ASSOCIATION,
CONTENTS OF ARTICLES
WINDING UP OF COMPANY:VOLUNTARY WIDNIGN UP, KINDS OF SHARE CAPITAL
COOPERATIVE SOCIETY:ADVANTAGES OF COOPERATIVE SOCIETY
WHO ARE MANAGERS?:THE MANAGEMENT PROCESS, BASIC MANAGEMENT SKILLS
HUMAN RESOURCE MANAGEMENT:Human Resource Planning
STAFFING:STAFFING THE ORGANIZATION
STAFF TRAINING & DEVELOPMENT:Typical Topics of Employee Training, Training
Methods
BUSINESS MANAGERS RESPONSIBILITY PROFILE:Accountability, Specific
responsibilities
COMPENSATION AND BENEFITS:THE LEGAL CONTEXT OF HR MANAGEMENT,
DEALING WITH ORGANIZED LABOR
COMPENSATION AND BENEFITS (Continued):MOTIVATION IN THE WORKPLACE
STRATEGIES FOR ENHANCING JOB SATISFACTION AND MORALE
MANAGERIAL STYLES AND LEADERSHIP:Changing Patterns of Leadership
MARKETING:What Is Marketing?, Marketing: Providing Value and Satisfaction
THE MARKETING ENVIRONMENT:THE MARKETING MIX, Product differentiation
3

MARKET RESEARCH:Market information, Market Segmentation, Market Trends

MARKET RESEARCH PROCESS:Select the research design, Collecting and analyzing
data
MARKETING RESEARCH:Data Warehousing and Data Mining
LEARNING EXPERIENCES OF STUDENTS EARNING LOWER LEVEL CREDIT:Discussion
Topics, Market Segmentation
UNDERSTANDING CONSUMER BEHAVIOR:The Consumer Buying Process
THE DISTRIBUTION MIX:Intermediaries and Distribution Channels, Distribution of
Business Products
PHYSICAL DISTRIBUTION:Transportation Operations, Distribution as a Marketing
Strategy
PROMOTION:Information and Exchange Values, Promotional Strategies
ADVERTISING PROMOTION:Advertising Strategies, Advertising Media
PERSONAL SELLING:Personal Selling Situations, The Personal Selling Process
SALES PROMOTIONS:Publicity and Public Relations, Promotional Practices in Small
Business
THE PRODUCTIVITY:Responding to the Productivity Challenge, Domestic Productivity
THE PLANNING PROCESS:Strengths, Weaknesses, Threats
TOTAL QUALITY MANAGEMENT:Planning for Quality, Controlling for Quality
TOTAL QUALITY MANAGEMENT (continued):Tools for Total Quality Management
TOTAL QUALITY MANAGEMENT (continued):Process Re-engineering, Emphasizing
Quality of Work Life
BUSINESS IN DIGITAL AGE:Types of Information Systems, Telecommunications and
Networks
NON-VERBAL COMMUNICATION MODES:Body Movement, Facial Expressions
BUSINESS ORGANIZATIONS:Organization as a System
ACCOUNTING:Accounting Information System, Financial versus Managerial
Accounting
TOOLS OF THE ACCOUNTING TRADE:Double-Entry Accounting, Assets
FINANCIAL MANAGEMENT:The Role of the Financial Manager, Short-Term (Operating)
Expenditures
As with other business structures, the primary goal of a for-profit partnership is to
make money. Individuals join forces in a partnership, though, to collaborate with
compatible strengths and to spread out risks. A partnership also allows you the
potential to grow bigger than you could on your own.
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Share Strengths
While people typically associate with and enjoy doing business with people who are
like them, it is often best to leverage the broad strengths of a diverse mix of
partners, according to business coach Bryan Bayer. One partner might specialize in
identifying new clients or associates, while another is effective at running day-today operations efficiently. Whether you start with a group of partners or add them
over time, strategic planning allows for better unification of abilities. The synergy

that comes from conversations among partners allows for potentially greater ideas
for the company, according to USA Today.
Spread the Risks
In sole proprietorships and partnerships, individuals face unlimited liability for
company debts. With a partnership, though, the financial and business risks are
shared among the general partners. Partners can agree on the financial, time and
resource allocation each makes to the firm, though Inc. magazine suggests that you
create a partnership agreement to formally outline all expectations, rewards and
consequences for each partner.
meaning
Also found in: Thesaurus, Medical, Legal, Financial, Idioms, Encyclopedia, Wikipedia.
Partnership Form of Organisation : Meaning, Definition and Formation
Article shared by RC Agarwal
Two or more individuals may form a partnership by making a written or oral
agreement that they will jointly assume full responsibility for the conduct of
business.
The need for partnership form of organisation arose from the limitations of soleproprietorship. In sole-proprietorship, financial resources and managerial skills were
limited one man could not supervise all the business activities personally.
Moreover, risk bearing capacity of an individual was also limited. When business
activities started expanding the need for more funds arose. More persons were
required for supervising different functions. It was at this stage that a need for
associating more persons arose. So more persons were associated to form groups to
carry on business. These persons brought in to the business their financial resources
and are also helpful in business administration.
Meaning:
A partnership is an association of two or more persons to carry on, as co-owners, a
business and to share its profits and losses. The partnership may come into
existence either as a result of the expansion of the sole trading concern or by
means of an agreement between two or more persons desirous of forming a
partnership.
ADVERTISEMENTS:

When the business expands in size, the proprietor finds it difficult to manage the
business and is forced to take more outsiders who will not only provide additional
capital but also assist him in managing the business on sound lines.
Sometimes the nature of business demands large amount of capital, effective
supervision and greater specialization. It is the ideal form of organisation for the
enterprise requiring moderate amount of capital and diversified managerial talent.

This form is not suitable for a business requiring more capital and expert managerial
personnel.
Definitions:
(i) John, A. Shubin:
ADVERTISEMENTS:

Two or more individuals may form a partnership by making a written or oral

agreement that they will jointly assume full responsibility for the conduct of
business.
According to Shubin two or more persons join together to share business
responsibility. The liability part is mainly given as a base of partnership.
(ii) L.H. Haney:
The relationship between persons who agree to carry on a business in common
with a view to private gain.
ADVERTISEMENTS:

Haney has given more emphasis on sharing of gains. The coming together of
persons to share the gains of a business is called partnership.
(iii) Section 4 of Partnership Act, 1932:
The relation between persons who have agreed to share profits of a business
carried on by all or any of them acting for all. According to Partnership Act, there
must be two or more persons having contractual relationship. It is not necessary
that the business should be managed by all the partners but any one or more
partners can run the business on behalf of all the persons. Any partner acting on
behalf of other partners can bind the firm to third parties. So there is an implied
authority for contracting on behalf of other partners.
ADVERTISEMENTS:

Formation of Partnership:
A partnership business can be formed by two or more members. The coming
together of at-least two persons for undertaking any business activity brings a
6

partnership into existence. There is a Partnership Act, 1932 but it does not prescribe
any mode of forming a partnership business. Even the registration of partnership is
left to the discretion of partners.
Formation of partnership requires the following steps:
(i) Coming together of two or more persons for setting up a business.
(ii) Creating a relationship among partners where they work under mutual trust.
(iii) In order to avoid or settle disputes amicably, a partnership deed is written. It is
a written document specifying the profit sharing ratio, capital contributions and
tasks assigned to different partners.
Partnership Deed:
Partnership deed forms the basis of partnership. It includes all important clauses like
name of business, contribution of capital, sharing of profits, mode of management,
etc. Partnership deed is a document containing all the matters according to which
mutual rights, duties and liabilities of the partners in the conduct and management
of the affairs of the firm are determined. The deed must be signed by the partners.
The partnership deed can both be oral or in writing. In France and Italy, a written
agreement among partners is essential to bind them lawfully. In India, U.S.A. and
Britain, the agreement may be either oral or in writing, agreement, however, should
be preferred because nobody can dispute the contents. There may be a dispute
even about what was agreed if the contents are not in writing. So written deed
should be pEffective Presentation of Data
Home > Presentation of Data Page > Effective Data
Presentation of data is tricky. Not everyone in your audience likes to crunch
numbers. Learn 5 ways to make your audience understand your message in 2
seconds or less.
Numbers are distracting
When you present numbers on your slides, you can expect two types of reactions
from your audience. One set of audience hates numbers and tunes off. Another set
loves to crunch numbers and take off on a tangent. As a presenter you lose either
way unless you know how to guide your audience attention by making your
message obvious. You can also present information creatively to make it interesting.
Here are the 5 tips to present your key message in 2 seconds.
1. Use simple 2D charts instead of complex 3D charts
We dont doubt the fact that 3D charts look cool. But, when you use 3D, you make
your audience work hard. You give them an additional dimension to think about.
This delays their understanding.

Lets do a quick makeover of a 3D chart to convey the key message under 2

seconds:
Presentation of Data Bar graph
The slide looks very colorful but complex. The chart says which product performed
how well in each month over the past 6 months. Phew! Thats a lot to grasp at one
time. Avoid any Presentation tips that requires you to use make information
complex.
Consider this alternative presentation of the same data:
Presentation Data 3d chart Makeover
We used a simple 2D line graph to show the trend over time. The title gives a clear
idea of what to look for in the slide. In 2 seconds your audience gets the
message of the slide.
To learn 29 creative ways to present data and other components of your
presentations creatively, check the free Creative Presentation Ideas e-course
2. Use labels instead of legends
Take a look at this slide with a pie chart:
Data Presentation of Pie Graph
Though its a simple chart to grasp, the legends placed off the chart delays
understanding. Your audience needs to refer to the legends each time to make
sense of the colors.
Consider this alternative pie chart:
Presenting data with pie graph less complex
Audience can find all the relevant information in one place instead of having to
search around the slide. The slide title gives the core message. The relevant part of
the pie chart is isolated for easy reference. So, your audience gets your
message under 2 seconds.
3. Make your key point stand out
Take a look at this slide with data:
Presenting bar graph data
Can you tell what the key message of the slide is? Neither can your audience. Slides
without a clear focus take a long time to understand. You can read further tips for
data presentation here.
Consider this alternative slide with graph:

Presentation of data with clear bar graph

The key point almost jumps out of the slide. To make presentation of data effective,
we ruthlessly removed everything that can potentially distract the audience
attention. There are no grid lines. Units on the y axis are replaced by data labels.
The key number is made larger than the rest. Naturally, your audience gets the
message under 2 seconds.
4.Dont spread your audience attention
Take a look at this slide with a line chart:
Presentation of data confusing
Every piece of data presented on the chart demands a portion of your audience
attention. That is why busy charts with multiple data sets put a lot of stress on your
audience.
Consider this alternative line chart:
Simple presentation of data
We retained just the two data sets required to make our point. The rest is dimmed
out. This channelizes the audience attention to where it matters. This is a very
effective way to get your point across in less than 2 seconds, when your chart has a
lot of elements. Presentation of data with simple animation makes data powerful.rch
Text: procedure winding partnership firm suggestion
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Terms of Reference
Domestic Abuse Forum April 2015
1. Purpose
The Community Safety Partnership is established to meet the
requirements of Section 5 & 6 of the Crime and Disorder Act 1998 and any
amendments made to it in subsequent legislation. The Community Safety
Partnerships targets in terms of reducing crime, anti-social behaviour, fear
of crime and substance misuse are set out in the Community Safety
Partnership Plans drawn up under the terms of the legislation and
guidance.
The Domestic Abuse Forum is comprised of a wide range of over 100
statutory and voluntary organisations based in the London Borough of
Richmond upon Thames. The Community Safety Partnership supports
the work of the Domestic Abuse Forum and consults with its membership
with respect to issues relating to domestic abuse which affect the residents
of Richmond upon Thames.
2. Objectives
The objective of the Community Safety Partnership is to reduce crime,
anti-social behaviour, and the fear of crime and to tackle the drivers of
crime (particularly drugs and alcohol).
The agreed CSP Domestic abuse objectives for 2015-16 are:
? To achieve positive outcomes for all victims of domestic violence
and abuse including children and young people
? Increase the effectiveness of the MARAC
? Increase awareness of the MARAC and the effect of domestic
violence and abuse on all victims including children and young
people
The key role which the Domestic Abuse Forum undertakes is that of a
Forum with a broad strategic overview of all the work being undertaken in
the Borough in relation to domestic abuse, including statutory partners and
the wide range of voluntary organisations.
The broad aims of the Forum are to:
? Promote networking and the sharing of ideas and information in relation
to domestic abuse across the Borough
? To educate and disseminate new information relating to Domestic
Abuse through guest speakers and discussion of topical issues
? To serve as a means of communication to the wider community of
Community Safety Partnership's new initiatives in response to domestic
abuse
? To serve as a focal point for domestic abuse issues arising in the wider
community which can then be referred back to statutory
partners/Community Safety Partnership for action/feedback
3. Membership
11

3.1Members
Membership of the Forum is open to representatives of statutory agencies,
formally constituted organisations/groups and individuals subscribing to
the Forums Terms of Reference which are able to assist the Forum in its
work. Representatives of new organisations/groups can join at any time
subject to majority approval from the membership.
Membership shall include the local authority (e g Housing, Social Services
and Education and Childrens Services), Police, Refuge, Victim Support,
health professionals, and other statutory, non-statutory and voluntary
sector agencies as appropriate. Members will be expected to attend at
least 2 meetings a year in order to continue their membership of the
Domestic Abuse Forum in Richmond upon Thames.
3.2 Chair
The Chair and Vice Chair will be elected from within the Forum and shall
serve for one year, with the possibility of re-election (for a maximum of two
further years). Their election will take place at the Annual General Meeting
(normally held in May). The Chair is responsible for chairing the Forum
meetings. The Vice Chair to deputise for the Chair as necessary.
3.3 Substitute members
Substitute members are permitted to attend in the place of members.
Details should be provided to the Domestic Abuse Coordinator in advance
of meetings. Substitutes should be briefed as to the agenda and any
actions for the organisation they represent.
4. Roles and responsibilities of members
All members of the Forum recognise:
? That domestic abuse is unacceptable in our community. All individuals
have the right to live their lives free from abuse and violence and the
threat of abuse and violence.
? That domestic abuse happens regardless of age, race, sexual
orientation, gender identity, disability, class, HIV status, nationality,
marital status, religious or political beliefs.
? That while the majority of victim/survivors are women, men do
experience domestic abuse and that services should therefore be
appropriate to a range of needs.
? That a whole range of behaviours can constitute abuse, including
physical, psychological, sexual, financial and emotional abuse.
? That children also experience abuse directly themselves, or as
witnesses, and therefore abuse in the home must be specifically
addressed within responses around child protection, and childrens
needs must be addressed within responses around domestic abuse.
? That all services should be offered in a non-judgemental manner and
aim to maximise choices.
? That mutual respect, trust, professionalism and a desire for sensitive
and appropriate service delivery are essential to a multi-agency
approach.
? Members of the Forum are accountable to their respective
organisation/group.
? That confidentiality is of paramount importance to ensure safety.
? That effective multi-agency consultation on policy and practice has a
vital role in service delivery, and agencies represented on the Forum
12

will give a high priority to such consultation.

The DAOG acts as the steering group for the MARAC and Domestic
Abuse strategy and policy and will feedback to and consult with the
Domestic Abuse Forum on a quarterly basis on performance and
operational issues.
Ad-hoc sub-groups may be established to progress specific areas of the
domestic abuse work in the Borough from time to time.
5. Accountability
The Domestic Abuse Forum is run independently of the Council and will be
supported by the Domestic Abuse and Hate crime coordinator. The
Community Safety Partnership which will also support its work is not
accountable for the Forum.
6. Decision Making
Decisions will be arrived at by majority decisions of those in attendance at
the Forum meetings and recorded in the minutes of the Domestic Abuse
Forum.
7. Frequency of meetings
The Forum will meet four times each year, the dates for the following year
being agreed at the last meeting of the year (normally October).
In order to extend the participation of a wide range of groups and
organisations, the timing of these meetings will where possible aim to
include daytime and evenings.
8. Secretariat
A volunteer from the memberships will take minutes of the Domestic
Abuse Forum meetings and will compile minutes for approval by the Chair
of the meeting and the Domestic Abuse Coordinator. The Domestic Abuse
Coordinator is responsible for receiving agenda items and the distribution
of the minutes of Forum meetings. The Domestic Abuse Coordinator will
set the draft agenda for approval by the Chair and Vice-Chair wherever
possible two weeks prior to each meeting.
Every member of the Forum has the opportunity to place items on each
meeting's agenda. The Domestic Abuse Coordinator should receive these
items no later than two working weeks before the date of the next meeting
2015 (9) TMI 508 - BOMBAY HIGH COURT
Enercon GmbH Versus Wind World (India) Limited and others
Mismanagement or oppression - CLB has found that, the case of oppression made
out by the Mehras against EG is proved and as per provisions of Section 397, 402
and 403 of the Companies Act, 1956 (the Act), buyout by Mehras of the
shareholding of EG is necessary. - CLB has directed EG to sell it's share holding to
Mehras, laying down certain modalities as regarding appointment of facilitator and
for valuation. - Held that:- if one takes overall vie... ...
2015 (6) TMI 707 - BOMBAY HIGH COURT
Madhu Ashok Kapur and Others Versus Rana Kapoor and Anothers
Right vested by the Articles of Association denied - Control of Yes Bank - Family
dispute - Held that:- Yes Banks Articles do contain a set of proprietary and
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participative rights; particularly in Article 110(b). These are rights that are attached
to shares, and flow from, and only from the shareholding of Ashok Kapur and Rana
Kapoor. - Of these various rights, the right to recommend under Article 110(b)
decidedly is not and never was perso... ...
Budget Speech 2015-2016
Budget Speech 2015-2016 - Dated:- 28-2-2015 - Budget 2015-2016 Speech of Arun
Jaitley Minister of Finance February 28, 2015 Madam Speaker, I rise to present the
Budget of the Union for the year 2015-16. 2. I present this Budget in an economic
environment which is far more positive than in the recent past. When other
economies are facing serious challenges, India is about to take-off on a faster gr... ...
Indo American Chamber of Commerce - Detailed Pre-Budget Memorandum on Direct
Taxes for 2015-16
Indo American Chamber of Commerce - Detailed Pre-Budget Memorandum on Direct
Taxes for 2015-16 - Dated:- 14-2-2015 - DIRECT TAXES 1.1 Tax Rates Companies/Firms/Limited Liability Partnership Issues The Finance Act (No. 2), 2014
had not modified the tax rate, which continue to be at 30% and the recently
increased surcharge at 10% on domestic companies whose taxable income
exceeds ? 10 crore... ...
FICCI-PRE-BUDGET-MEMORANDUM-2015-16
FICCI-PRE-BUDGET-MEMORANDUM-2015-16 - Dated:- 12-2-2015 - ECONOMY
OVERVIEW 1.1 Current state of India's economy India's growth prospects in 2014-15
look much better when compared to the situation a year ago. Various agencies
project GDP growth to be around 5.5/5.6% this fiscal year. This is a welcome
improvement from below 5.0% GDP growth witnessed in the previous two fiscal
years - 4.5% i... ...
2014 (9) TMI 821 - SUPREME COURT
Madras Bar Association Versus Union of India And Another
Constitutional validity of National Tax Tribunal Act, 2005 Whether a tribunal can
substitute the High Court in its appellate jurisdiction, when it comes to deciding
substantial questions of law - Held that:- The question is one of great public
importance and has, therefore, been placed before the Constitution Bench
consisting of five judges headed by the Chief justice - The NTT is styled as a quasijudicial appellate tribunal - It has been vest... ...
2015 (3) TMI 681 - ITAT CHANDIGARH
ACIT. Circle 6(1), Mohali and others Versus Punjab Urban Development Chandigarh
Authority and others
Jurisdiction of Assessing officer - transfer of jurisdiction over the case under section
127 - Held that:- The assessee has itself filed return with Circle 6(1). No doubt the
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Department has also not handled the issue very well (i.e. original return and revised
returns were transferred to Circle 2(1) and again transferring the same to Circle
6(1)). However, as far as the assessee is concerned, it submitted itself to jurisdiction
of Circle 6(1). Se... ...
Draft Rules (2nd phase) under Companies Act 2013
Draft Rules (2nd phase) under Companies Act 2013 - Dated:- 26-10-2013 - DRAFT
RULES UNDER COMPANIES ACT, 2013 CHAPTER III PROSPECTUS AND ALLOTMENT OF
SECURITIES Part I Public Offer Matters to be stated in the prospectus 3.1. For the
purposes of clause (a) of sub-section (1) of section 26, (1) pursuant to sub-clause (i),
the names, addresses and contact details of *** (2) pursuant to sub-clause (ii... ...
2013 (7) TMI 569 - SUPREME COURT
M/s. Integrated Finance Co. Ltd. Versus Reserve Bank of India Etc. Etc.
Search Text: conclusion partnership firm
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2016 (10) TMI 59 - BOMBAY HIGH COURT
Jamnalal Sons Ltd. Versus The Commissioner of Income Tax
Transfer of capital assets - contribution of capital asset into the firm - capital gain
computation - selection of assessment year - Held that:- So far as the character of
immovable property, shares and securities invested by the applicant company into
the partnership firm M/s. Bajaj Trading Company as a stock in trade as contended by
the applicant or capital asset as held by the Tribunal is concerned, the same need
not be examined. This for the ... ...
2016 (10) TMI 29 - CESTAT CHENNAI
Jayalakshmi Printing Mills, N.R. Nachimuthu, Partner Versus Commissioner of Central
Excise

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Clandestine removal of goods - Demand raised unjustly - processed fabrics

dispatched in the name of M/s/Jayalakshmi Printing Mills were entered in the Central
Excise Record on payment of duty, the processed fabrics dispatched in the name of
M/s/Bharath Printing Mills - material facts and evidence not examined - Held that:the order of the Adjudicating Commissioner shows that he has not applied his mind
when he writes "without going too much into... ...
REGISTERED VALUER UNDER WEALTH TAX ACT, 1957 PART II
REGISTERED VALUER UNDER WEALTH TAX ACT, 1957 PART II - Wealth Tax - By: Mr. M. GOVINDARAJAN - Dated:- 20-9-2016 - Procedure for registration as a valuer
The following is the procedure for registration of valuer under this Act- Any person
who possesses the qualifications prescribed in this behalf may apply to the Chief
Commissioner or Director General in the Form No. N for being registered... ...
2016 (9) TMI 867 - SUPREME COURT
Sampelly Satyanarayana Rao Versus Indian Renewable Energy Development Agency
Limited
Dishonour of a post-dated cheque given for repayment of loan - Negotiable
Instruments Act - Held that:- Reference to the facts of the present case clearly
shows that though the word security is used in clause 3.1(iii) of the agreement,
the said expression refers to the cheques being towards repayment of installments.
The repayment becomes due under the agreement, the moment the loan is
advanced and the installment falls due. It is undisputed th... ...
2016 (9) TMI 950 - ITAT KOLKATA
M/s. The Right Address Ltd. Versus Income tax Officer (TDS) , Ward-59 (4) , Kolkata
And DCIT, Circle-4, Kolkata Versus M/s. The Right Address Ltd.
Addition on account of interest on loan attributable to the investments in securities CIT(A) deleted the addition - Held that:- From the foregoing discussions we find that
the AO has presumed that the shares held as stock in trade were converted into
investments on dated 01.04.2004 and accordingly interest expenses pertaining to
the investment were disallowed. However, the ld. CIT(A) has granted relief to the
assessee by holding that the shares... ...
2016 (10) TMI 56 - ITAT PUNE
Quality Industries Versus The Jt. Commissioner of Income Tax, Range- 2, Nashik.
Addition u/s 14A - source of funds for investment made in mutual funds - interest
paid to its partners - when loan taken from the partners would be held as own funds
or borrowed funds for the purpose of Section 14A - since, interest on capital is
taxable in hands of partners and disallowance will lead to double taxation in hands
of partner as well as firm. - Held that:- It is clear from the above that firm and
partners of the firm are not separat... ...

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2016 (9) TMI 967 - BOMBAY HIGH COURT

Bhatia Industries and Infrastructure Limited Versus Asian Natural Resources (India)
Limited (formerly Bhatia International Limited) and Vitol S. AA company
incorporated
Lifting of corporate veil - whether the concept of lifting of corporate veil was
available even in execution proceedings and whether any interference was called
for in the finding recorded by the learned Single Judge? - Held that:- The concept of
removing corporate veil is applicable not only in the cases of holding of subsidiary
companies or in the case of tax evasion but can be equally applied in execution
proceedings.We are therefore of the vi... ...
2016 (9) TMI 210 - PUNJAB AND HARYANA HIGH COURT
The Commissioner of Income-tax, Panchkula Versus M/s Micro Instruments Company
Entitled to the deduction u/s 80-IB in respect of Unit No.II - Held that:- Merely
because the relief granted for a previous assessment year is not withdrawn, it does
not follow that the assessee is entitled to the relief for the subsequent years even if
during the subsequent years the assessee fails to comply with the provisions of
Section 80-IB or a condition precedent to a claim for deduction under Section 80-IB
ceases to exist in the subsequen... ...
2016 (9) TMI 1216 - ITAT DELHI
M/s. Balaji Agro Industries Versus ACIT, Circle-20 (1) , New Delhi
Penalty u/s 271(1)(c) - assessee claimed remuneration to partners - assessee has
contended that the case of the assessee was audited under section 44AB of the Act,
however, the learned Auditor did not disallow the excess claim of the remuneration Held that:- We find that the assessee has offered explanation in respect of the facts
material to the computation of income and which has not been found to be false by
the Assessing Officer. The assess... ...
2016 (9) TMI 1215 - ITAT MUMBAI
ITO-17 (3) (1) , Mumbai Versus M/s. Arsh Constructions 1
Determination of income on project completion method - Ad-hoc estimation of
profits - assessment completed u/s 143 - Held that:- In the present case, assessee
had demonstrated that there was no substantial completion of project in the instant
assessment year, and rather the fact-situation clearly showed that on account of
litigation amongst the partners the continuation of the project itself was in jeopardy.
In any case, the facts brought out by... ...Whether nondisclosure of the letter/notice
dated 18th January, 2005 issued by the RBI to the appellant is violative of the
provisions of Section 391(2) and/or Section 393 Held that:- The Company Court
was not expected to substitute its own wisdom for that of the stakeholders - all the
procedural requirements for sanctioning a scheme under Sections 391-394 have

17

been complied with - an overwhelming majority of the deposit holders have

approved threferre

18