COMMISSIONER OF INCOME TAX Vs. PIONEER ENTERPRISES

JUDGEMENT

(1.) AT the instance of the Commissioner of Income-tax, the Income-tax Appellate Tribunal, Cochin Bench, has referred the following question of law said to arise out of the order of the Tribunal dated April 24, 1984, in I. T. A. No. 361(Coch) of 1982 :

(2.) THE matter arises out of the income-tax assessment for the assessment year 1979-80, for which the previous year ended on March 31, 1979. THE respondent-assessee is a partnership firm originally constituted under an instrument of partnership executed on February 17, 1978 as "Kerala Enterprises". THE name was changed by an agreement executed on March 1, 1978 as "Pioneer Enterprises", the respondent herein. THE firm was given registration for the assessment year 1979-80. THE Income-tax Officer, while completing the assessment, allocated the unabsorbed depreciation among the partners of the assessee-firm.

(3.) IN the light of the above, we answer the question referred to us in the negative, in favour of the Revenue and against the assessee.