1968 (10) TMI 19

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..... The judgment of the court was delivered by SOMNATH IYER J. - This is a reference under section 66(1) of the Indian Income-tax Act, 1922, sought by the assessee which is a firm in Hubli. There were four partners in the firm and in the opinion of the Tribunal, the instrument of partnership, on its interpretation, specified only the shares of the partners in the profit and not their shares in the .....

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..... first question is answered in favour of the assessee, as in our opinion it should be, the answer to the second question becomes unnecessary. Our answer to the question should be in favour of the assessee since the enunciation made by this court in Sannappa v. Commissioner of Income-tax makes it clear that refusal of registration under section 26A is not possible in a case where the instrument of .....

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