9911796707
TMI Blog2004 (8) TMI 28X X X X Extracts X X X X X X X X Extracts X X X X ..... in holding that the assessee was entitled to registration under the Income-tax Ac 1961 - - - - - Dated:- 5-8-2004 - Judge(s) : R. K. AGARWAL., K. N. OJHA. JUDGMENT The Income-tax Appellate Tribunal, Delhi, has referred the following question of law under section 256(2) of the Income-tax Act, 1961 (herein after referred to as "the Act"), for the opinion of this court: "Whether, on the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e relevant previous year. Since the firm had not executed a fresh partnership deed in the previous year, the Commissioner of Income-tax, following the decision of this court in Ganesh Lal Laxmi Narain v. CIT [1968] 68 ITR 696, under section 263 of the Act cancelled the assessment made by the Income-tax Officer under section 143(3) wherein the assessee has been treated as a registered firm and dire ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Commissioner for taking action under section 263 had since been overruled by the Allahabad High Court itself vide its Full Bench decision in the case of Badri Narain Kashi Prasad v. Addl. CIT [1978] 115 ITR 858, i.e., the position in law stated there was that a fresh deed was not necessary on the minor attaining majority. According to the Tribunal, in view of the above change in law the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f taking action under section 263 of the Act by the Commissioner, i.e., the decision of this court in the case of Ganesh Lal Laxmi Narain v. CIT [1968] 68 ITR 696 has been overruled by the Full Bench of this court in the case of Badri Narain Kashi Prasad v. Addl. CIT [1978] 115 ITR 858 and therefore, there was no need for a fresh deed on the minor attaining majority. We, however, find that the hon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Thus the application for registration of a firm cannot be rejected merely on the ground that if a minor who becomes major during the particular assessment year and if he elects to continue as a partner a fresh partnership is required. This view taken by the Tribunal does not suffer from any illegality. In view of the foregoing discussion, we answer the question of law in the affirmative, i.e., i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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