2000 (9) TMI 7 - SCH - Income Tax

Whether, registration could be granted under section 185 of Income-tax Act to a firm constituted in violation of Arms Act & Rules - questions now stand concluded by the decision of this court in Moti Lal Chunnilal (Tak) v. CIT 1998 234 ITR 472. Following the said decision, the appeal is allowed and the order under appeal is set aside.

Summary

The Supreme Court allowed the appeal by special leave, setting aside the High Court's order in favor of the assessee and against the Revenue. The decision was based on a previous court ruling in Moti Lal Chunnilal (Tak) v. CIT [1998] 234 ITR 472.