9911796707
TMI Blog1997 (9) TMI 63X X X X Extracts X X X X X X X X Extracts X X X X ..... is court : "Whether, on the facts and in the circumstances of the case and on the proper interpretation of clauses 9 and 10 of the instrument of partnership, the Appellate Tribunal was justified in law in holding that the assessee-firm was entitled to registration and in directing the Income-tax Officer to register the assessee-firm?" The assessee-firm was constituted under a partnership deed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... That save as above, no partner shall be authorised to do any other business on his own account, unless the other partners agree to it and allow him to do the same." From a reading of the aforesaid clauses, the Assessing Officer was of the view that no partner was permitted to carry on any contract work in his own name; that the contract from the M. E. S. was taken by one of the partners in viol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... own return. From a conjoint reading of clauses 9 and 10 of the partnership deed dated August 1, 1964, it clearly appears that no partner was permitted to carry on any other business on his own account except with the consent of other partners. The Appellate Tribunal found that from the facts and circumstances of the case, it is clear that Sri N. P. Bhatia had taken up the contract from the M. E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... matter can be looked at from another angle also. Minus the profits from the M. E. S. contract the firm has been assessed by the Assessing Officer in respect of profits from other contracts and, therefore, it is difficult to say that the firm did not exist or did not carry on the business as per the partnership deed. Nothing is pointed out by the Revenue to us to doubt the genuineness of the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X
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