COMMISSIONER OF INCOME TAX Vs. SANTOSH KUMAR KANORIA

JUDGEMENT

(1.) THE Tribunal has referred the following question of law to this Court under s. 256(1) of the IT Act, 1961 :

(2.) THE facts as narrated by the Tribunal in the statement of case are as under :

(3.) IT would appear from the two partnership deeds, the relevant clauses whereof have been set out Miss Divita Kanoria, minor, admitted to benefits 15% 6(ii) That the losses of the firms shall be borne by the parties in the following shares, namely :