KALINGA SAW MILLS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) AT the instance of the assessee under Section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), the Appellate Tribunal has stated a case and referred the following question for determination of this court:

(2.) THE year of assessment is 1967-68. M/s. Kalinga Saw Mills, the assessee, is a partnership firm. For the assessment year 1967-68, it was registered under the Act. In respect of that assessment year the firm continued with five partners till March 17, 1966, and with effect from March 18, 1966, three partners retired but the firm continued with the remaining two partners only, until the end of the accounting year which, according to Dewali was November 12, 1966. THE assessee made application in Form 12 for continuing the registration of the firm and when the need for applying in Form 11A was realised the period was over. THE proper application in Form 11A was made only on August 17, 1967, that is, after the year was over.