1992 (1) TMI 87 - HC - Income Tax

Summary

The High Court of Karnataka allowed the petition of a partnership firm that was facing cancellation of registration due to a partner acting in dual capacity. The court relied on a statement by the Central Board of Direct Taxes to quash the notice issued by the Income-tax Officer, stating that signing a deed in dual capacity does not invalidate a partnership. The petition was allowed, and the rule was made absolute.