9911796707
TMI Blog1972 (12) TMI 3X X X X Extracts X X X X X X X X Extracts X X X X ..... istration tinder section 26A of the Indian Income-tax Act, 1922 (in short " the Act "), before the Income-tax Officer on May 26, 1958, In that application it mentioned that the previous years' income had been divided among the partners. The Income-tax Officer rejected that application. He did not believe the version of the assessee that the previous years' income had been divided. In appeal the Appellate Assistant Commissioner agreed with the conclusion reached by the Income-tax Officer. On a further appeal being taken to the Income-tax Appellate Tribunal, the Tribunal agreed with the conclusions reached by the lower authorities. Before the Tribunal yet another contention appears to have been taken. That contention was that at any rate the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... p specifying the individual shares of the partners may, under the provisions of section 26A of the Indian Income-tax Act, 1922 (hereinafter in these rules referred to as the Act), register with the Income-tax Officer, the particulars contained in the said Instrument on application made in this behalf. Such application shall be signed by all the partners (not being minors) personally, or in the case of a dissolved firm by all persons (not being minors) who were partners in the firm immediately before dissolution and by the legal representative of any such partner who is deceased, and shall, for any year of assessment up to and including the assessment for the year ending on the 31st day of March, 1953, be made before the 28th February, 19 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax Officer is satisfied that for some sufficient reason the original Instrument cannot conveniently be produced, he may accept a copy of it certified in writing by all the partners (not being minors) or, where the application is made after dissolution of the firm, by all the persons referred to in the said rule, to be a correct copy and in such a case the application shall be accompanied by a duplicate copy. FORM I FORM OF APPLICATION FOR REGISTRATION OF A FIRM UNDER SECTION 26A OF THE INDIAN INCOME-TAX ACT, 1922. TO The Income-tax Officer, Dated ……19.. Income-tax year 19…. /19…. 1. ..................... 2 . ..................... We do hereby certify that the profits (or loss, if any) of the previous year w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ------------------------------------------------------------------------ -------------------------------------------------------------------------------------------------------------------------------------------------- Note :--(1) If the interest, salary and/or commission ............................................... ................... columns with the letter " R " (In other cases the interest, salary and/or commission may exceed the total profits so as to leave a balance of net loss divisible in column 6). (2) If any partner is entitled to share in profits but is not liable to bear a similar proportion of any losses, this fact should be indicated by putting against his share in column 6 the letter " P ". Rule 6: " Any fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... od upto the date of dissolution between the partners who were entitled to share in such income, profits or gains (or loss). Name of partner Address Date of admittance to partnership. (1) Interest on capital or loans(if any) (1) Salary or commission from firm (2) Share in the balance of profits (or loss),etc Remarks 1 2 3 4 5 6 7 NOTE:--(1) If the interest, salary and/or..................... loss divisible in column 6. (2) If any partner is entitled..................... his share in column 6 the letter " P " (Signatures) (Address) NOTE:--This application must be signed personally........................................ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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