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2003 (5) TMI 39 - HC - Income TaxHeld that unless the partnership firm had carried on business in accordance with terms of an instrument of partnership which was operative during the accounting year, it cannot claim the benefit of registration as it could not be registered in respect of the following assessment year. The Commissioner of Income-tax has set aside the order of registration dated September 2, 1977, for the assessment year 1976-77 on the ground that there was no evidence as to when the firm came into existence prior to the assessment year 1975-76. More so the return filed on behalf of the firm stood superseded by the return filed by Sri J. P. Bhatia in individual capacity. - Firm was not entitled to registration in the assessment year 1976-77
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