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2006 (2) TMI 138 - HC - Income TaxCancellation of renewal of registration of the firm granted to the petitioner under section 186 by AO - main question raised by the petitioner is that once registration is renewed, the same cannot be withdrawn under section 186 of the Income-tax Act which provides for cancellation of registration only if the firm as registered is not found to be genuine - Even though counsel for the petitioner contended that the construction of a building by two brothers and their family members for the purpose of letting out and the actual letting out of the same is business, the petitioner itself has not made any such claim by returning the income as business income in the returns filed. On the other hand, the petitioner itself conceded income from house property under the specific head of "Income" provided for that under the Income-tax Act for the assessment of rental income. The argument is therefore prima facie unacceptable. – assessee’s appeal is dismissed
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