1985 (10) TMI 22 - HC - Income Tax

Summary

The High Court of Punjab and Haryana allowed the appeal of the alleged assessee, M/s. Mittal Engineering Co., for registration as a firm for the assessment year 1973-74. The court held that the lady partners and minors admitted to the benefits of the partnership did not need to contribute capital or skill for a valid partnership. The Tribunal's decision was based on established legal principles, and the court dismissed the Revenue's petition for reference of questions.