1989 (2) TMI 53 - HC - Income Tax

Summary

The High Court held that a sub-partnership between Kanhaya Lal and Ram Chand was not genuine and not entitled to registration for the assessment year 1970-71. Consequently, continuation of registration for the assessment year 1971-72 was denied, and the referred question was answered in favor of the Revenue. The assessee may apply for fresh registration for 1971-72, subject to objections from the Revenue. The reference was disposed of with no costs.