https://www.taxtmi.com/caselaws?id=62148 The Tribunal partially allowed the assessee's appeal by setting aside the Commissioner of Income Tax's order to cancel the registration. It directed the assessment of royalty income as 'Business income' and upheld the assessment of dividend income under 'Other sources'. The Tribunal maintained the assessee's status as a registered firm, rejecting the CIT's argument to assess it as an Association of Persons. The Income Tax Officer was instructed to adjust the total income accordingly, and the additional grounds raised by the assessee were deemed unnecessary for consideration. en-us Tue, 13 Nov 1979 00:00:00 +0530 Tue, 18 Jan 2011 12:58:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62148 The Tribunal partially allowed the assessee's appeal by setting aside the Commissioner of Income Tax's order to cancel the registration. It directed the assessment of royalty income as 'Business income' and upheld the assessment of dividend income under 'Other sources'. The Tribunal maintained the assessee's status as a registered firm, rejecting the CIT's argument to assess it as an Association of Persons. The Income Tax Officer was instructed to adjust the total income accordingly, and the additional grounds raised by the assessee were deemed unnecessary for consideration. Case-Laws Income Tax Tue, 13 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62148