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TMI Blog1998 (5) TMI 15X X X X Extracts X X X X X X X X Extracts X X X X ..... imilar questions and have been argued together by learned counsel for both the sides. In Income-tax Reference No. 412 of 1983, the Tribunal has referred the following question for the opinion of this court under section 256(1) of the Income-tax Act, 1961 : "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in coming to the conclusion that the protecti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the protective assessment made by the Income-tax Officer was liable to be set aside?" Both the references pertain to the assessment years 1976-77 and 1977-78. Income-tax Reference No. 412 of 1983 is argued as a lead matter by both the sides with a request to treat their contentions to be the same in Income-tax Reference No. 408 of 1983. In both the references, the assessees are discretiona ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ttled legal position, because a trustee can join a partnership firm in a representative capacity. The factual position which was not in dispute was summarised by the Tribunal and it was held that Jayshankar B. Upadhyay was a genuine firm which was duly registered. It was also found that the partnership deed of the firm clearly mentioned the fact that the said partner had joined the firm in his c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs in their representative capacity for and on behalf of these two trusts. It is also an admitted fact that the trust deed did authorise the trustees to do business either as proprietors or as partners. In this background, we are of the view that the Tribunal was fully justified in holding that there was no case for making any assessment on protective basis against these persons in their individua ..... X X X X Extracts X X X X X X X X Extracts X X X X
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