1997 (9) TMI 55 - HC - Income Tax

Summary

The High Court of Punjab and Haryana ruled that a partnership firm engaged in the liquor business cannot be granted registration if non-licensee partners are involved. The Income-tax Appellate Tribunal had allowed registration, but the court overturned this decision based on a previous case precedent. The court held that such a firm is not genuine under the Income-tax Act. The judgment favored the Department and went against the assessee.