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If 3 people are shown as partners of a firm by means of partnership deed to sales tax department in 2020 but on the same time 2 partners open another account of firm in bank by showing another partnership deed, which show only 2 people as partners of the firm then is it a fraud?. There is no dissolution or retirement deed of the firm available and all 3 initial partners still are shown as partners of the firm to sales tax department. The partnership deed in which all 3 were partners of the firm is not in dispute and original of it is shown in court. +Is there any judgement of high court of supreme court which is similar to this case. please mention the case title and date of judgement along with name of judge/bench.
The Indian Partnership Act, 1932, defines a partnership as "the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all." This means that all partners have a right to be involved in the management of the firm and to share in its profits and losses. For further enquiry Contact us on helpline number.