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TMI Blog1972 (4) TMI 15X X X X Extracts X X X X X X X X Extracts X X X X ..... nder the partnership deed did not commerce during the relevant accounting period, it cannot be said that there was in existence any partnership. The Tribunal therefore, was right in rejecting the application for registration - - - - - Dated:- 13-4-1972 - Judge(s) : G. K. GOVINDA BHAT., B. VENKATASWAMI. JUDGMENT The judgment of the court was delivered by GOVINDA BHAT J.- This is a referen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... il 8, 1965, provided as per clause (2) to carry on the business of excise contractors and as per clause (3) to carry on such business as the partners decided. During the relevant accounting year, the business as contemplated under the deed of partnership was not commenced, but during the said year the assessee invested the contributions made by the partners with another firm called " M/s. Narayan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rm for the assessment years ; (b) if he is not so satisfied, he shall pass an order in writing refusing to register the firm ...... .. (sub-sections (2), (3), (4) and (5) omitted as unnecessary). Sri K. Srinivasan, learned counsel for the assessee, submitted that the terms and conditions laid down by section 185(1)(a) have been satisfied and therefore the Tribunal was in error in refusing to r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an application for registration is in conformity with the rules made under the Act, and (ii) whether the firm shown in the document presented for registration is a bogus one or has no legal existence. " In Commissioner of Income-tax v. A. Abdul Rahim and Co. the statement in Sivakasi Match Exporting Company's case was reiterated. Sri K. Srinivasan urged that in the instant case both the conditi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of a business carried on by the partners is essential to constitute partnership. Since the business contemplated under the partnership deed did not commerce during the relevant accounting period, it cannot be said that there was in existence any partnership. The Tribunal therefore, was right in rejecting the application for registration. Accordingly, we answer the question referred in the negativ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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