https://www.taxtmi.com/caselaws?id=69506 The Tribunal held that the Income Tax Officer (ITO) had the authority to seek clarifications regarding the registration of the firm to determine its genuineness. The ITO was deemed justified in scrutinizing the deed of dissolution of the earlier firm to ascertain the new firm's constitution. Despite the refusal of registration based on profit allocation not adhering to the partnership deed, the Tribunal found the firm genuine. It emphasized that minor deviations in profit distribution should not lead to refusal of registration, directing the grant of registration and dismissing the revenue's appeal. en-us Fri, 27 May 1983 00:00:00 +0530 Thu, 07 Apr 2011 13:53:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69506 The Tribunal held that the Income Tax Officer (ITO) had the authority to seek clarifications regarding the registration of the firm to determine its genuineness. The ITO was deemed justified in scrutinizing the deed of dissolution of the earlier firm to ascertain the new firm's constitution. Despite the refusal of registration based on profit allocation not adhering to the partnership deed, the Tribunal found the firm genuine. It emphasized that minor deviations in profit distribution should not lead to refusal of registration, directing the grant of registration and dismissing the revenue's appeal. Case-Laws Income Tax Fri, 27 May 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69506