1988 (8) TMI 72

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... inafter referred to as "the Act"). The material facts giving rise to this application, briefly, are as follows For the assessment year 1979-80, the assessee, which is a partnership firm, submitted an application, for registration of the firm under the provisions of the Act. The Income-tax Officer found from the account books of the assessee that profits had not been distributed between the two .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he order passed by the Tribunal : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the assessee was not a genuine partnership firm because the profits of the assessee-firm had not been distributed in accordance with the terms of the partnership deed ?" The application is, therefore, allowed. The Tribunal is directed to state the case and t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X