AYODHYAPRASAD PARMESHWARIDAS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE Tribunal, Jabalpur Bench, Jabalpur, has referred the following four questions to this Court for its opinion under S. 256(1) of the INCOME TAX ACT, 1961 (hereinafter referred to as the Act):

(2.) THE facts in brief necessary for answering the aforesaid questions are that the assessee was a registered firm since the asst. year 1951 -52. There were changes in its constitution several times thereafter. One such change took place on November 9, 1972, when a partnership deed was executed according to which there were six partners in the firm, one of whom being Gopiram. The relevant assessment year for purposes of this case is 1975 -76, the previous year of which ended on November 13, 1974. Gopiram died on October 2, 1974 it was mentioned specifically in the partnership deed dated November 9, 1972, that in the case of the death of any of the partners, the firm shall not be dissolved but shall continue with the remaining partners and with such of the legal representatives of the deceased partner as was desired by the remaining partners.

(3.) AFTER the matter was finally disposed of by the Tribunal in the second appeal, on an application made by the assessee, the four questions mentioned above were referred by the Tribunal to this Court for its opinion.