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2003 (9) TMI 13 - HC - Income TaxFirm - "Whether, Tribunal was right in holding that M/s. Hazarimal Milapchand Soorana and M/s. Mannalal Nirmal Kumar Soorana and Company could not in law be treated as one firm for the purposes of assessment?" - The registration of the firm cannot be refused or the firm cannot be treated as just "benami" of the assessee-firm only on the ground that the partners and business thereof are common. When the books are separate, the partners have contributed capital and books of account are not rejected in the case of Mannalal Nirmal Kumar Soorana and Company, in these facts, we fail to understand how the firm, Mannalal Nirmal Kumar Soorana and Company, can be treated as just an extension of the assessee-firm – Finding of Tribunal that M/s. Mannalal Nirmal Kumar Soorana and Company is an independent firm and not an extension of M/s. Hazarimal Milapchand Soorana, cannot be disturbed
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