TMI Blog1997 (7) TMI 78X X X X Extracts X X X X X X X X Extracts X X X X ..... circumstances of the case, the Tribunal was right in law in allowing the assessee's claim for continuation of registration ?" 2. The assessee-firm was granted renewal of registration for the asst. yr. 1973-74 and that further applied for continuation of the registration for the asst. yr. 1974-75 with which we are concerned herein. The ITO observed that the books of account produced by the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th the fact that the balances in the partner's account do not tally for which no reason at all is forthcoming and also the fact that deliberate non-compliance was made in response to the specific querry of the ITO. I am inclined to agree with the finding of the ITO that there was no genuine firm in existence during the year under consideration and as profits have not been actually divided amongst ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ught to have been allowed by the Revenue authorities and was wrongly not allowed." Sub-s. (7) of s. 184 of the IT Act, 1961 (briefly, the Act), insofar as material, runs as under: "When registration is granted or is deemed to have been granted to any firm for any assessment year, it shall have effect for every subsequent year : Provided that- (i) there is no change in the constitution of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee firm furnished the declaration in the prescribed form for claiming continuation of registration. Also there is no finding either by the ITO or by the AAC that there was change in the constitution of the firm or change in the share ratio, as evidenced by the partnership deed on the basis of which registration was granted for the preceding year. In CIT vs. Voleti Veerabhadra Rao S ..... X X X X Extracts X X X X X X X X Extracts X X X X
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