COMMISSIONER OF INCOME TAX Vs. KOONANS JEWELLERY

JUDGEMENT

(1.) These references are at the instance of the Revenue. The relevant assessment years are 1981-82 to 1988-89. ITA Nos. 653 to 656 relating to assessment years 1981-82 to 1984-85 were disposed of by a common order dated 26.8.1993. ITA Nos, 657 to 659 and 809 for the assessment years 1985-86 to 1988-89 were disposed of on the same day by another common order. The questions referred for the opinion of this court are as follows:

(2.) Assessee is a partnership firm doing jewellery business. The registration/continuation of registration originally granted was cancelled by the assessing authority on the ground that licence was in the name of one of the partners and not in the name of the firm and that the firm was carrying on business under the Gold (Control) Act without a licence in his name. Appeal filed by the assessee was allowed by the First Appellate Authority. Even though the matter was taken up in further appeal by the Revenue Tribunal upheld the orders passed by the First Appellate Authority, following a decision of a Special Bench in the case of MA. Ravindra Engg. Construction Company (198 ITR 32 (AT)).

(3.) Both sides submitted before us that the common issue involved in these references is governed by the principle laid down by the decision of a Full Bench of this Court in Narayanan And Co. v. CIT 1996 (1) KLT 546 .