(1.) THE Income-tax Appellate Tribunal, Jaipur Bench, Jaipur (hereinafter referred to as "the Tribunal", has referred the following question for our decision :
(2.) THE petitioner-assessee is a firm. Its accounting year for the assessment year 1969-70 ended on Diwali 1968 and the following persons were the partners of the firm on that date :
(3.) SECTION 42 of the Partnership Act deals with dissolution on the happening of certain contingencies. The relevant part of SECTION 42 of the Partnership Act is as follows :