1996 (9) TMI 20

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..... court, in Narayanan and Co. v. CIT [1997] 223 ITR 209 (Ker) [FB]; [1996] KLJ (Tax Cases) 154, to follow to answer identical questions in I. T. R. No. 42 of 1993. The said identical questions are as follows : "1. Whether, on the facts and in the circumstances of the case and where a partner obtains a licence and carries on the business of abkari contracts, the Tribunal is right in law in holding, .....

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..... 996] KLJ (Tax Cases) 154 has decided that such a contract of partnership is void under section 23 of the Contract Act and as such cannot be recognised as a genuine partnership firm with reference to the proceedings under the Income-tax Act, 1961. In the process of reasoning it is observed, that the said partnership is against the Abkari Act as it is hit by the provisions of rule 6(22) of the Rules .....

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