TMI Blog1989 (2) TMI 109X X X X Extracts X X X X X X X X Extracts X X X X ..... or the assessment year 1978-79. When assessment for the aforesaid year was being made by the Income-tax Officer, it was found that there was a net loss but he disallowed carry forward of the loss for the assessment year 1979-80 in view of the fact that for the assessment year 1979-80, the firm had been granted registration and the provisions of section 77(1) of the Income-tax Act, 1961 (for short ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as the firm continued to be the same. The order of the Appellate Assistant Commissioner was upheld by the Income-tax Appellate Tribunal, Amritsar, and at the instance of the Revenue, the following question has been referred for the opinion of this court : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is right in law in upholding the finding of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in spite of the registration. One of the prerequisites for doing this is that the firm should be the same. If there is a change in the constitution of the firm, then, different consequences may flow. Here, there is no change in the constitution of the firm, and, therefore, the word "firm" used at the end of section 77(1) of the Act would include both a registered as well as an unregistered firm. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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