COMMISSIONER OF INCOME TAX Vs. SHARMA AND COMPANY

JUDGEMENT

(1.) THIS is a reference under Section 256(1) of the Income-tax Act, 1961 (hereinafter to be referred to as "the Act"). The only question referred to us for our opinion is as follows :

(2.) THE relevant assessment year is 1975-76. THE assessee is a partnership firm. It applied for continuation of registration in terms of Section 184(7) of the Act. THE Income-tax Officer rejected the application for registration. THE assessee, being aggrieved by the order of the Income-tax Officer, appealed to the Appellate Assistant Commissioner, who allowed the appeal. THE Revenue contested the matter before the Appellate Tribunal but without any success. Hence this reference to us.