• Advice required on an income tax case judgement

Hi,
I need a legal advice on an Income Tax Judgement of 2015. The case was Income Tax Vs Mr. X.

Mr. X was in partnership with my father (Died in 2013) till 1998. He cunningly transffered all leagl rights related to the business to his own firm by taking advantage of my father's brain tumour surgery in 1998. 

After that he transferred an amount of approx. 20-25 laks in his own firm by making two dummy companies in the name of his sisters.

We are assuming that this amount relates to a sale of land (80 lakhs) which happened when my father was a partner.

Since this matter appeared before us after my father's death, we are unable to track the details.

What legal options are avialbale with us?

Please assist us.

Thanks.
Asked 4 years ago in Business Law

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5 Answers

Hello,

The judgment that you are referring to has been passed by which court/ tribunal?

In the limited details told by you it is very difficult to help you out.

Have you received any summon?

regards

Anilesh Tewari
Advocate, New Delhi
17940 Answers
377 Consultations

5.0 on 5.0

Sir, first of all you need to see the partnership deed of your father with Mr. X, Than take copies of the land records of said land which was sold, it need to be seen that does that amount was credited in partnership firm account or the partner cheated and took all amount, also the name in land record that land belonged to firm or in name of partner.

As legal heir you are entitled to the share of fathers property in that firm.

Also kindly clarify what are the finding in judgement ??

Shubham Jhajharia
Advocate, Ahmedabad
25516 Answers
179 Consultations

5.0 on 5.0

Dear Client,

On the death of partner, his legal heirs or legal representatives or their duly authorized agents shall have a right of access to and to inspect and copy any of the books of the firm u/s 12 of Partnership Act.

Hire some local lawyer, he will find the details of case, and file application to substitute father`s legal heirs as party in the case.

Yogendra Singh Rajawat
Advocate, Jaipur
21481 Answers
31 Consultations

4.4 on 5.0

1) take search in sub registrar office and obtain certified copy of sale deed executed by the firm

2) did your father execute any POA for sale of property by the firm ?

3) we need complete details of case to advice further

Ajay Sethi
Advocate, Mumbai
87917 Answers
6207 Consultations

5.0 on 5.0

When this matter is reported to have taken place in the year 1998, and your father was alive till 2013, i.e., fifteen years after the alleged fraud that has taken place, you are seeking advise on this after five years of your father's death.

You say that you dont have any documentary proofs as well to prove this alleged fraudulent activity.

In my opinion, even if you have any substantial proofs to prove the fraudulent activity, you may not be able to claim anything now at this stage because:

a) Your father was the partner of the firm, he never took any initiative to recover the amount or property which was alleged to have been fraudulently transferred to his account, during the lifetime of your father, even though the limitation for that was just three years from the date of detection.

b) It is barred by limitation and also you dont have any rights over it especially when it is reported to have taken place during your father's lifetime and he never took any legal action on it till his lifetime.

My question is that why you people did not initiate any action on this for almost two decades?

T Kalaiselvan
Advocate, Vellore
78070 Answers
1543 Consultations

5.0 on 5.0

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