COMMISSIONER OF INCOME TAX Vs. GANESAR INDUSTRIES

JUDGEMENT

(1.) AT the instance of the Revenue, the following question has been referred to this court for its opinion :

(2.) THE assessee was a firm of six partners. It was carrying on business in the manufacture of huller screens and was constituted under an instrument of partnership dated April 1, 1969. THE above firm was granted registration under the I.T. Act, 1961, in respect of its income-tax assessment for the assessment year 1963-64 up to and inclusive of the assessment year 1972-73. During the previous year ended with March 31, 1973, relevant to the assessment year 1973-74, one of the partners, Shri Arjundas Bulchand, died on November 19, 1972. THE ITO by order dated March 11, 1974, granted registration to the assessee-firm for the assessment year 1973-74 under s. 185(1)(a) of the I.T. Act, 1961, observing as follows :