BALU READYMADE STORES Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE following question is referred for the decision of this court :

(2.) THE assessee is a firm dealing in cloth. During the assessment year in question, a theatre known as Balamani THEatre was constructed at a cost of Rs. 2,40,000. THE assessee claimed that the theatre belongs to a separate partnership firm constituted under a deed dated April 15, 1977, by the same partners with a different profit-sharing ratio.