MALANKARA TIMBERS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) This is a reference by the Income Tax Appellate Tribunal, Madras Bench, under S.66(2) of the Indian Income Tax Act, 1922. The question referred is:

(2.) The registration sought was in respect of the assessment year 1960-61. The accounting period concerned was the twelve months from 1-4-1959 to 31-3-1960.

(3.) Annexure A to the Statement of the Case is the deed of partnership. It begins by saying: