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TMI Blog2006 (1) TMI 78X X X X Extracts X X X X X X X X Extracts X X X X ..... 89-90 were different? 2. Whether, Tribunal was justified in holding that no association of persons was in existence when it is undisputed that payment to Excise authorities was made on behalf of three persons (Sh. Kulwant Singh, Sh. Balbir Singh and Sh. Daljit Singh) who later on formed a firm with effect from April 1, 1988? 3. Whether the order of Tribunal was perverse as it was based on unsuppor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dismissing the appeal of the Revenue by holding that the payment was made by Shri Kulwant Singh, although the facts as found for the Commissioner of Income-tax (Appeals) in order dated October 8, 1992, for the assessment year 1989-90 were different? 2. Whether, the Income-tax Appellate Tribunal was justified in holding that no association of persons was in existence when it is undisputed that p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r of Income-tax (Appeals), the addition was deleted on the ground that the alleged investment was made during the previous year, relevant to the assessment year 1988-89. In view of the said order of the Tribunal, the Assessing Officer initiated action under section 148 of the Act in respect of the assessment year 1988-89, and framed an assessment under section 144 on the respondent, taking its s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... three partners of the said firm, namely, Sarv Shri Kulwant Singh, Balbir Singh and Daljit Singh, a firm or an association of persons is deemed to have come into existence in the previous year, relevant to the assessment year 1988-89. We are unable to agree with learned counsel. Merely because an excise licence is stated to have been issued in the name of three persons, who constituted a firm wi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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