Provisions u/s Sec.185(5),Income Tax Act 1961.

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..... efuse to register the firm. Sec.186(2) provides that in such cases the registration which is granted or which has effect u/s.184(7) for the relevant assessment year, may be cancelled. The Board have noticed some cases where the ITO misapplied sec.185(5) to the facts which called for invoking the provisions of section 186(2). Further it is noticed that the ITO while making the assessment u/s.144 me .....

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..... made. In a case where the assessee has been allowed registration for the preceding year and a declaration for continuation of registration u/s.184(7) has been filed in the subsequent year, the ITO will invoke sec.186(2) if there is, on the part of the firm any such failure as is mentioned in sec.144, and such power under that section could be exercised only after giving the firm not less than 14 d .....

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