1997 (12) TMI 40

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..... ta. The Hindu undivided family carried on business in the sale of petroleum products. The said business was converted into a partnership firm on April 1, 1973. The Income-tax Officer made an assessment for the assessment year 1978-79 following his earlier assessment order for the assessment year 1975-76, holding that the entire business income from a partnership business which was carrying on bu .....

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..... e firm can be assessed. The Revenue has challenged the order of the Appellate Tribunal as the assessment was made by the Income-tax Officer on a protective basis and the Revenue has not accepted the order of the Appellate Tribunal holding that the firm, namely K. T. S. Nagamanickam Chettiar, was a genuine firm. It is stated that the order of the Appellate Tribunal in the case of the firm K. T. S. .....

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