GURUDEO PRASAD JAGANNATH PRASAD Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) THE Tribunal has referred the following question of law for our opinion :

(2.) THE assessee was doing business originally under the name and style of M/s. Gurdeo Prasad Jagannath Prasad which consisted of five partners and was constituted under a partnership deed, executed on the 1st of June, 1968. THE partners' respective shares were : <FRM>JUDGEMENT_486_ITR131_1981Html1.htm</FRM>

(3.) WE, accordingly, answer this question in the affirmative, in favour of the assessee and against the department. In the circumstances, there will be no order as to costs.