LAWS(MAD)-1957-1-7

V S ARULANANDAM Vs. COMMISSIONER OF INCOME TAX

Decided On January 18, 1957
V.S.ARULANANDAM Appellant
V/S
COMMISSIONER OF INCOME TAX, MADRAS Respondents

JUDGEMENT

(1.) THE assessee and V. Gopal Naidu were partners in each of the three partnership concerns (1) R.G.S. Naidu and Co., (2) T.A. Ramalingam Chettiar Sons and Company and (3) A.G. Guruswami Naidu and Company. R.G.S. Naidu and Company were the managing agents of the Coimbatore Spinning and Weaving Company Limited, T.A. Ramalingam Chettiar Sons and Company were the managing agents of Sri Murugan Mills Ltd., A.G. Guruswami Naidu and Company were the managing agents of Sri Radhakrishna Mills Limited Clauses 8 and 9 of the deed of partnership of R. G. S. Naidu and Company ran.

(2.) THE deed of partnership of T.A. Ramalingam Chettiar Sons and Company gave even wider rights. Clause 6 of that deed ran.

(3.) CLAUSE 19 of that agreement ran: