2003 (9) TMI 77 - SCH - Income Tax

Registration of partnership firm - Conditions Precedent - section 184(2) of the Income-tax Act 1961 is in pari materia with section 27(2) of the Kerala Agricultural Income-tax Act 1950. - Following decision in the case of Progressive Financers 1997 (2) TMI 12 - SUPREME Court decided against the revenue.

Summary

The Supreme Court dismissed the appeals citing a previous decision in Progressive Financers v. CIT, where the same issue was decided in favor of the assessee. The issue related to sections 184(2) of the Income-tax Act, 1961, and section 27(2) of the Kerala Agricultural Income-tax Act, 1950.