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Issues: Whether the assessee-firm was entitled to registration under section 185 of the Income-tax Act, 1961, notwithstanding the substitution of a page in the partnership deed and the absence of evidence that the altered page was introduced after the relevant accounting period.
Analysis: The partnership commenced business during the accounting year and the application for registration was filed during that year. The evidence accepted by the Tribunal showed that, even on the original understanding, the accounts were to be closed on 31 March 1963 and there was no material to show that the accounts had in fact been closed on any earlier date. The substituted page was therefore part of the instrument during the accounting year, and mere substitution of a page, without proof that it affected the genuineness of the firm or that the alteration was introduced so as to defeat registration, was insufficient to deny registration. The presumption was also that the application was accompanied by the instrument and copy required under section 184(5) of the Income-tax Act, 1961.
Conclusion: The assessee-firm was entitled to registration; the rejection of registration could not be sustained.
Ratio Decidendi: A mere alteration or substitution in the partnership deed does not by itself disentitle a firm to registration unless it is shown that the alteration affected the genuineness of the firm or otherwise invalidated the statutory requirements for registration.
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