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2004 (7) TMI 54 - RAJASTHAN HIGH COURTFirm - Continuance Of Registration - assessee-firm filed a return of income for the assessment year 1990-91 in the status of URF. During the course of assessment proceedings under section 143(3), the assessee filed an application for registration with the partnership deed on December 17, 1992, and requested for condonation of delay stating the reasons that the deed could not be filed on March 31, 1990 as it remained with the authorised representative - Whether, Tribunal is justified in law in allowing registration to the assessee-firm whereas the assessee-firm itself had filed a return in the status of URF, and this case was of fresh registration of the firm? - assessee has contended that the partnership has equal share. He has contended that the shares of the partners have been computed accordingly in four equal shares and for this he has referred to computation of profits - There is no dispute on the fact that the power is there, for condonation of delay in case the application allowing the partnership deed has not been filed along with the return filed. - when the firm is genuine and reasons are there for delay, we see no reason to interfere with the impugned order of the Tribunal.
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