https://www.taxtmi.com/caselaws?id=767007 The SC upheld the HC's ruling that property contributed by a partner to a partnership firm becomes firm property under Section 14 of the Partnership Act. The deceased partner had acquired property in 1965, formed a partnership in 1972, then constructed a hotel building with his partner brother. The court found clear evidence of intention to contribute the property to the firm, extinguishing individual ownership claims. The property belonged solely to the partnership firm, not to individual partners. The appeal was dismissed. en-us Thu, 27 Feb 2025 00:00:00 +0530 Sat, 08 Mar 2025 08:32:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767007 The SC upheld the HC's ruling that property contributed by a partner to a partnership firm becomes firm property under Section 14 of the Partnership Act. The deceased partner had acquired property in 1965, formed a partnership in 1972, then constructed a hotel building with his partner brother. The court found clear evidence of intention to contribute the property to the firm, extinguishing individual ownership claims. The property belonged solely to the partnership firm, not to individual partners. The appeal was dismissed. Case-Laws Companies Law Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767007