Any two or more people may form a partnership under the Partnership Act. These people could be natural or artificial. As a result, a partnership could develop between various businesses. Although it is possible to form a partnership with a company as a partner under the Partnership Act, there would be practical challenges in how such a partnership would operate in light of the Companies Act’s rules.
In the case of Ganga Metal Refining Company v. Commissioner of Income-tax, West Bengal, the Calcutta High Court expressed its opinion that, while it is possible for an incorporated company to form a partnership with another incorporated company for income-tax purposes, the regular definition of partnership cannot really be used to say that an incorporated company under the Companies Act can do so. If you want to be a judicial officer and are looking for best RJS coaching in Jaipur, here, at Jyoti Judiciary we provide comprehensive study material to make your preparation solidified and topnotch. From preliminary mock tests, to mains answer writing sessions every material required for clearing the exam is provided. We have separate legal current affairs classes, legal general knowledge, current affairs classes all in one time enrolment. Hurry up.
