Can a partnership firm become partner of another partnership
illyas sait (4 Points)
31 December 2015illyas sait (4 Points)
31 December 2015
DISHA SHAH
(professional)
(1618 Points)
Replied 08 January 2016
no partnership firm cant become partner in another firm , because its not juristic person
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 08 January 2016
Agree with Disha
Kindly refer the Dulichand Laxminarayan case law
In Dulichand Laxminarayan v. CIT(2)[1956]29 ITR 535, The Supreme Court has also held that “partnership” being the relation between persons, who have agreed to share th e profits of a business carried on by all or any of them acting for all, and “persons” who enter into the partnership being called individually “partners” or collectively “a firm” the word “person” contemplates only natural or artificial, i.e., legal persons, and neither a firm nor a Hindu undivided family can be that person
sathyanarayanan
(advocate)
(62 Points)
Replied 26 January 2016
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