COMMISSIONER OF INCOME TAX Vs. BHAGWATI DEBI AGARWALLA

JUDGEMENT

(1.) THE Tribunal has referred the following question of law to this Court under s. 256(1) of the IT Act, 19961 :

(2.) THE dispute is whether the AAC was right in directing the ITO to include in the relevant assessment year the assessee's share of profit from the firm, Janata Medical Stores. The Tribunal had noted that Janata Medical Stores had been granted registration for the asst. yr. 1970-71 and also for the asst. yr. 1972-73. The Tribunal held that the continuation of registration was almost a matter of course. The order which was initially granted for registration of the firm, was not challenged before us. It has not been stated by the Revenue that order is under challenge in any other proceedings. It is also not the case of the Revenue that the facts of the case this year were different from the facts of the earlier years.

(3.) THE question therefore, is answered in the affirmative and in favour of the assessee.