1989 (2) TMI 27

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..... d, has referred the following question under section 256(1) of the Income tax Act, 1961 "Whether, on the facts and circumstances of the case, the Tribunal is justified in upholding the refusal of registration of the firm by the lower authorities ?" The assessee filed a return in respect of the partnership firm, Shri Vijayalakshmi Rice Mill Contractors Co., Akividu, for the assessment year 1976 .....

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..... reed. No appeal was preferred against the, order of assessment. Appeal was preferred only against the order refusing registration.; In this appeal, the Appellate Assistant Commissioner agreed with the Income-tax Officer that the assessee had not satisfactorily explained the loss of books. He was of the opinion that in the absence of books, the genuineness of the firm can not be said to have been e .....

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..... any error in the order of the Tribunal. It is not disputed before us that the registration could be refused if the firm failed to satisfy the Income-tax Officer that the profits and losses of the firm were apportioned between the partners in the manner specified in the partnership deed. For the above reasons, the question referred to is answered in the affirmative, that is, in favour of the Reve .....

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