COMMISSIONER OF INCOME TAX Vs. SHARDABEN KISHOREBHAI PATEL

JUDGEMENT

(1.) Present Income Tax Reference at the instance of the Revenue has been made by the learned Income Tax Appellate Tribunal, Ahmedabad (hereinafter referred to as "Tribunal") under section 256(2) of the Income-tax Act, 1961 (hereinafter referred to as "Act") to consider the following common question of law.

(2.) Before considering the question which is referred to this Court, the relevant clauses in the respective partnership deeds of respective partnership firms are required to be referred to and considered.

(3.) Shri K.M. Parikh, learned advocate appearing on behalf of the Revenue has vehemently submitted that as such the observations and the findings arrived at by the learned Tribunal are erroneous and on misinterpretation and/or misreading of the relevant clauses in the partnership deed of the respective partnership firms.