Court held that\u00a0 on conversion of a registered partnership firm to an LLP under the provisions of LLP Act , all moveable and immoveable properties of erstwhile registered partnership \u00a0firm \u00a0, automatically vest in the converted LLP by operation of S. 58 (4) (b) of the LLP Act. The transfer of assets of firm to LLP is by operation of law . Being statutory transfer , no separate conveyance \/ instrument is required to be executed for transfer of assets \u00a0,therefore stamp duty and registration fee cannot be levied upon conversion \u00a0of a \u00a0\u00a0partnership firm to LLP . Therefore , permission under S. 118 of the H.P .Tenancy and Land Reforms Act for recording such change of name in the revenue documents , cannot be made dependent upon deposit of stamp duty and registration fee . \u00a0\u00a0(CWP No. 4019 0f 2020 dt 7-1-2021 )<\/p>\n","protected":false},"excerpt":{"rendered":"
Limited liability Partnership Act , ( 6 of 2009 ) <\/p>\n
S. 58(1) : Registration and effect of conversion \u2013 The identity of the firm as a legal entity changes \u2013 Stamp duty and registration fee cannot be levied upon conversion of a partnership firm to LLP- The Transfer of assets of firm to LLP is by operation of law . [ S. 55, 58 (4)(b), Registration Act , 17, Stamp Act . S.3 , H.P Tenancy and Land Reforms Act ,(8 of 1974 ) S.118 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-21157","post","type-post","status-publish","format-standard","hentry","category-allied-laws"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-5vf","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/21157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=21157"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/21157\/revisions"}],"predecessor-version":[{"id":21158,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/21157\/revisions\/21158"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=21157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=21157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=21157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}