1984 (11) TMI 9

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..... 1961 : "Whether the income derived from the firm M/s. Batli Munavalli Co., Hubli, through the representative of the assessee-firm is liable for income-tax in the hands of the assessee-firm ?" By mere narration of the facts, the answer to the question will reveal itself. The assessee is a registered firm with six partners. The assessment year is 1977-78. One of the partners by name Sri S .....

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..... rofit arising from the other firm is, therefore, legally assessable in the hands of the assessee. So stating, he dismissed the appeal. The assessee preferred further appeal before the Tribunal. The Tribunal also concurred with the view taken by the Commissioner of Income-tax (Appeals). It will be seen from the above narrative that, during the relevant period, Shankarappa Munavalli became a p .....

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