TMI Blog1961 (3) TMI 6X X X X Extracts X X X X X X X X Extracts X X X X ..... n in the negative. Appeal dismissed. - - - - - Dated:- 13-3-1961 - Judge(s) : J. L. KAPUR., M. HIDAYATULLAH., J. C. SHAH JUDGMENT The judgment of the court was delivered by KAPUR, J.--This is an appeal against the judgment and order of the High Court of Judicature at Madras. The assessee is the appellant and the Commissioner of Income-tax is the respondent. A partnership consisting of four persons was formed by a deed of partnership dated March 31, 1949. On July 27, 1951, another partner was taken into partnership and a new deed was drawn up. The previous partnership deed was considered as the principal deed. The new partnership like the old one was to end on March 31, 1954. On March 29, 1954, a new partnership was enter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... "). The appellant firm then applied for registration for the assessment year 1955-56. The Income-tax Officer pointed out to the appellant firm that there was no specification of shares of the partners in the deed of partnership. Thereupon, the appellant submitted the deed of rectification dated September 17, 1955, above mentioned and submitted that the original deed did specify the shares of the partners and the deed of rectification only clarified the position. But the registration was refused by the Income-tax Officer and an appeal taken against that order to the Assistant Commissioner was dismissed. Further appeal was taken to the Income-tax Appellate Tribunal which also failed. At the request of the appellant the following question was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an interest equal to the highest rate at which the company may have to pay in the event of borrowing the same from Multani money market and shall carry twice the said rate of interest in the year or years of loss. " " 34. The senior partner may at any time during the subsistence of the partnership bring in one or more of his other sons other than partners of the 5th and 6th part herein to the partnership and in the event of their so becoming partners they will be liable for the same duties as the other partners herein and shall be entitled to remuneration and profits in proportion to their capital contribution. " " 41(a). In the event of the dissolution of the partnership the capital available for distribution as per the balance sheet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 26A. The right can be claimed only in accordance with the statute which confers it and a person seeking relief under that section must bring himself strictly within the terms of that section. The right is strictly regulated by the terms of that statute : Ravulu Subba Rao v. Commissioner of Income-tax. Section 26A provides : " 26A. (1) Application may be made to the Income-tax Officer on behalf of any firm, constituted under an instrument of partnership specifying the individual shares of the partners, for registration for the purposes of this Act and of any other enactment for the time being in force relating to income-tax or super-tax. " For the purpose of this case the relevant words of that section are " constituted under an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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