Law:

Section:

JUDGMENT Satish Chandra, CJ.—Doubting the correctness of the law laid down in earlier decisions of this court in Ganesh Lal's case [1968] 68 ITR 696 (All) and in Ram Narain's case [1972] 84 ITR 233 (All), a Division Bench of this court has referred the following question of law to a Full Bench: "Where a minor admitted to the benefits of a partnership, attains majority and elects to be a partner of the firm, is there a change in the constitution of firm as contemplated by cl. (i) of the prov. to sub-s. (7) of s. 184 of the I.T. Act, 1961?" Chap. XVI of the I.T. Act lays down special provisions applicable to firms. Head "A" is entitled Assessment affirms. It consists of s. 182 (assessment of registered firms) and s. 183 (assessment of unregistered firms). Head "B" is entitled Registration of firms. It consists of ss. 184 to 186. Under s. 184(1) an application for registration is to be made if the constitution of the partnership is evidenced by an instrument and the individual shares of the partners are specified in that instrument. The application for registration is to be signed by all the partners (not being minors) personally. It has to be made before the end of the previous year for the assessment year in respect of which registration is sought. The application is to be accompanied by the original instrument evidencing the partnership. Last, but not the least, the application is to be made in the prescribed form and is to contain the prescribed particulars. S. 185(1) provides the procedure. It says: "185. (1) On receipt of an application for the registration of a firm, the Income-tax Officer shall inquire into the genuineness of the firm and its constitution as specified in the instrument of partnership, and— (a)if he is satisfied that there is or was during the previous year in existence a genuine firm with the constitution so specified, he shall pass an order in writing registering the firm for the assessment year; (b)if he is not so satisfied, he shall pass an order in writing refusing to register the firm." The Explanation to s. 185(1) furnishes some guidelines to determine the genuineness of a firm and its constitution. In the latter respect the enquiry…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492