9911796707
TMI Blog1983 (6) TMI 62X X X X Extracts X X X X X X X X Extracts X X X X ..... rom 1st April, 1977, two more new partners Naveen Kumar and Dhan Raj were taken and deed was executed on 7th April, 1977. The assessee's business was that of purchase and sale of gold and making of gold ornaments and the said business could only be done by obtaining licence under the Gold Control Act, 1968. One of the partners Shri Meghraj died on 4th March, 1978 and in order to restart the firm, the licence was applied for under the Gold Control Act, 1968 and the statutory approval was received on 1st April, 1978, thereupon a new partnership was formed. As per the partnership deed dt.7th April, 1977, which was effective from 1st April, 1977, there was no stipulation in the deed that partnership will not be dissolved on death or demise of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1978 and subsequent deed having been executed thereafter, the registration in the instant case could not be refused on the strength of (1977) 109 ITR 92 (P H). 5. While disputing this action of the AAC, the ld. Departmental representative submitted besides relying on the order of the ITO that after the death there is no dissolution and he relied on the Punjab Haryana High Court judgement in the case of nandlal Sohan Lal vs. CIT 1978 CTR (P H) 5 (FB) : (1977) 110 ITR 170 (P H) besides (1977) 109 ITR 92 (P H) supra. He vehemently argued that there is no change in the entity and this being a case of reconstitution one assessment should have been framed and since there has been no partnership deed executed for the period 5th March, 1978 to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the issue. 7. After taking into consideration the rival submissions, we are unable to interfere in the finding of the AAC regarding registration to the assessee u/s 185(1)(b). There is no dispute about the fact that assessee has been dealing in gold ornaments and for that trade it was obliged to obtain a licence as per s. 52 of the Gold Control Act, 1968 which reads as under: "Licence to a firm to be invalid if there is any change in the partnership of a firm. Where any firm has been licensed under this Act to carry on business as a dealer or refiner, such licence shall, notwithstanding anything contained in this Act, become invalid and from the date on which there is a change in the partnership of such firm, unless such change in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ership. The reliance of the AAC of Punjab Haryana High Court decision in the case of Hirdit Singh Palchand Ors. Supra, for the limited purpose that any firm without licence under Punjab Liquor Licence Rules, 1956 was illegal. Similarly in the instant cases the firm was illegal even if the same is considered to have existed between 5th March, 1978 and 31st March, 1978. Besides, there are large number of other decisions of other High Courts which support the contention of the assessee which are dealt with by the AAC in his order and repeating the same here shall only be encumbering this order. 8. Coming to the cross-objection of the assessee, firstly it has become infructuous the moment we have confirmed the order of the AAC and reject ..... X X X X Extracts X X X X X X X X Extracts X X X X
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