LAWS(ALL)-1978-12-37

PRAKASH KHANDSARI MILLS Vs. COMMISSIONER OF INCOME TAX

Decided On December 04, 1978
PRAKASH KHANDSARI MILLS Appellant
V/S
COMMISSIONER OF INCOME-TAX Respondents

JUDGEMENT

(1.) THE only question referred for our opinion is whether the assessee-firm was rightly treated as an unregistered firm for the assessment year 1969-70.

(2.) MESSRS. Prakash Khandsari Mills, the assessee-firm, carried on business under a deed of partnership dated June 19, 1963. The firm consisted of four partners. Each of them had a one-fourth share. Dal Singar Singh, one of the partners, died on October 1, 1968. The business was carried on under a deed of partnership dated April 2, 1969. According to this deed, the three erstwhile partners Joined with Surya Nath Singh as the incoming fourth partner. According to the partnership of April 2, 1969, each of the partners had a one-fourth share.