COMMISSIONER OF INCOME TAX Vs. CHOWDHURY METAL DEPOT

JUDGEMENT

(1.) For the assessment years 1968-69, and 1969-70, under Section 256(1) of the I.T, Act, 1961, the following question has been referred to this court :

(2.) The assessee-firm was constituted by a deed of partnership dated 31st December, 1965, consisting of six partners and one Bhimchand Mangalchand Chowdhury, a minor admitted to the benefits of the partnership. After reciting the shares of the parties it has been set out by the Tribunal in a statement of the case which contained, inter alia, the following clauses :

(3.) It is not necessary for us to set out the other clauses which have been referred to by the Tribunal. The assessee made an application for registration under Section 185 of the 1961 Act, for two years under reference. The ITO, however, rejected the case, for the reasons mentioned in the order passed under Section 185 of the 1961 Act. The Assistant Commissioner upheld this order. There was an appeal. The Tribunal, after noticing the rival contentions and referring to the relevant provisions of law, observed, inter alia, as follows :