1998 (8) TMI 35

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... hich relates to the assessment years 1971-72 to 1973-74. The questions referred to us are: "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is correct in law in holding that the assessee firm is entitled to registration for the assessment year 1971-72 and that no material or evidence was brought on record by the Department so is to deny the benefit of registr .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... egistration. The Assessing Officer refused the continuation on the ground that the assessee had, in a settlement proceeding, agreed to have the income of another firm, by name, Seth Kishanchand Ramchand, included in the total income of the assessee-firm and taxed accordingly. The view of the Assessing Officer was affirmed by the appellate authority, but was reversed by the Tribunal. The Tribunal .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... nly to boost the income of the assessee-firm and no more. The partners do not change, nor is the profit-sharing ratio altered by reason of that inclusion. That was also not the case pleaded by the. Revenue before the Tribunal. There was no ground on the basis of which the authority could decline to continue the registration of the firm. Whatever action the Revenue may wish to take to penalise the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X