COMMISSIONER OF INCOME-TAX, CALCUTTA vs KEJRIWAL TRADERS — 1971 PTD 1006

Citation: 1971 PTD 1006

Court: Calcutta High Court

Year: 1968

Decision Date: 1968-03-07

Parties: COMMISSIONER OF INCOME-TAX, CALCUTTA vs KEJRIWAL TRADERS

Headnotes

Case cited as 1971 PTD 1006

Judgment Text

Court Name: Calcutta High Court Judge(s): K. L. Roy, P. B. Mukharji Title: COMMISSIONER OF INCOME-TAX, CALCUTTA vs KEJRIWAL TRADERS Case No.: Income-tax Reference No. 124 of 1964 Date of Judgment:1968-03-07 Reported As: 1971 PTD 1006 Result: order made JUDGMENT JUDGMENT P. B. MUKHARJI, J.-The Commissioner of Income-tax called for this reference from the Tribunal. The question arising for an answer by this Court on this reference under section 66(1) of the Income-tax Act is as follows:- "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that registration under section 26-A of the Indian Income-tax Act should be granted to the assessee with reference to the portion of the relevant accounting year commencing from the 1st February 1957, and ending on the 30th September 1957?" The facts giving rise to this question are as follows: The assessment year in this case is 1958-59 and the relevant previous year is from February 1, 1957 to December 31, 1957. The assessee claims to be a firm constituted under a partnership deed dated the 18th April 1957, and applied for registration of that instrument of partnership under section 26-A. For the relevant assessment year. There were four partners to this deed of partnership dated the 18th April 1957, with equal shares in the profits and losses, namely, (1) Kanhaiyalal, (2) Banwarilal, (3) Nathmal, and (4) Iyer. Nathmal retired from the partnership from the 30th September 1957, by another deed.…

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