1966 (7) TMI 10 - HC - Income Tax

Whether the Tribunal was right in law in holding that the firm was not entitled to grant of registration and renewal of registration u/s 26A of the IT Act, 1922 - Held, yes

Summary

The High Court of Kerala upheld the decision of the Income-tax Appellate Tribunal to deny registration to a firm due to discrepancies in accounts and lack of evidence of partnership existence. The court emphasized the requirement of at least two genuine partners for a valid partnership, rejecting the argument that a benamidar could be considered a separate partner. The judgment favored the tax department and did not award costs.