P M UTHUPPU Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THESE petitions, filed under S. 256(2) of IT Act, 1961, arise out of common order passed by Tribunal, Cochin Bench, in I.T.A. No. 507/Coch/1992 filed by the assessee and I.T.A. No. 538/Coch/1992 at the instance of the Revenue. Relevant assessment year is 1981 82. The question of law sought to be referred are :

(2.) IT is contended by the assessee that when its proprietary business was converted into partnership business, there is no dissolution of the business and, therefore, the decisions of the Supreme Court referred to and relied on by the Tribunal are not applicable to the facts of this case.