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TMI Blog2018 (9) TMI 141X X X X Extracts X X X X X X X X Extracts X X X X ..... t Shri R. Kumaraveluwas representing an HUF, by virtue of judgment of Apex Court in the case of Rashik Lal & Co. (1997 (12) TMI 2 - SUPREME COURT), he could also be considered as a partner in his individual capacity. - Decided against revenue. - I.T.A. Nos.1355 & 1356/CHNY/2017 - - - Dated:- 21-8-2018 - SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER And SHRI DUVVURU RL REDDY, JUDICIAL MEMBER Appellant by : Mrs. Ruby George, IRS, CIT. Respondent by : Mr. G. Suresh, FCA ORDER Per Abraham P. George, Accountant Member These are appeals filed by the Revenue directed against orders dated 29.03.2017 of ld. Commissioner of Income Tax (Appeals)-3, Coimbatore. 2. Grounds taken by the Revenue are common for both years, and these ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.02.2017. As per the ld. Authorised Representative, the Tribunal had clearly upheld the genuineness and the validity of the firm. Further, as per the ld. Authorised Representative, the said decision of the Tribunal was followed subsequently for assessment years 2009-10, 2010-11, 2013- 14 and 2014-2015 in ITA Nos.1351 to 1354/Chny/2017, dated 26.03.2018. 4. Ld. Departmental Representative fairly agreed that issue as on date was covered in favour of the assessee by Tribunal decision mentioned above. However, according to her, the issue has been taken up by the Department before the Hon ble Jurisdictional High Court and appeals has been admitted. 5. We have considered the rival contentions and perused the orders of the authorities below ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cer had considered these firms to have been formed between these persons in their representative capacity and not in their individual capacity, considering the following clause appearing in page 2 of the partnership deed. The said clause is reproduced hereunder:- WHEREAS, the parties hereto of the Second and Third Parts are Partners in a representative capacities respectively, representing THE CHRYSANTHEMUM TRUST , and THE MARIGOLD TRUST , being trusts evidenced by two indentures of Trust dated the Twentyfifth day of February, One Thousand Nine Hundred and Ninety. WHEREAS, Mr. R. Kumaravelu the party hereto of the First Part represents the Hindu Undivided Family consisting of himself, his wife and minor daughter, of which Hindu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot do directly. If the karta or any other member of a Hindu undivided family joins a partnership, he can do so only as an individual. His rights and obligations vis-a-vis other partners are determined by the Partnership Act and not by Hindu law. 10. What their Lordship held is that even if a person nominated by a HUF joins a partnership, the partnership could be deemed as one between such nominated person and other partners of the firm. The Apex Court did not hold that such partnership would only be an Association of Persons. In any case, it is not in dispute that the assessees were granted the status of registered firm by virtue of provisions of Section 185(1) of the Act since assessment year 1991-92. The position continued for a pe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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