1979 (8) TMI 3 - SUPREME COURT

Excess cost of building was included in firm's income - Appellate Assistant Commissioner directed exclusion on the ground that the firm was not the owner of the building, and it was to be debited to the co-owner - AAC in appeals before him could not convert the provisions of section 147(a) into those of section 153(3)(ii) and that provisions of section 153(3)(ii) were not applicable to the instant case - reassessment of individual co-owner partners is not valid