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1957 (5) TMI 3 - SC - Income TaxWhether on a proper construction of the agreement dated 29th November, 1928, and having regard to the facts and circumstances of the case the applications by the assessee for the registration of the partnership showing Steels and Ellermans as the only partners thereof (with their specific shares set out as against each of them and signed only by them) were rightly refused by the Income-tax Officer? Held that:- There is no justification whatever for contending that the agreement dated 29th November, 1928, was a composite agreement which could be divided into two parts, viz., (1) a tripartite agreement between the members of the Combination and (2) an agreement of partnership between Steels and Ellermans only, Burma being merely a confirming party to it in so far as a part of its assets were thrown into the Combination. The answer given by the High Court to the referred question in the negative was accordingly correct and this appeal will be dismissed.
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