https://www.taxtmi.com/caselaws?id=10747 The High Court interpreted section 184(7) of the Income-tax Act, 1961, ruling in favor of the assessee-firm for continuation of registration. The court held that registration is automatic upon filing the required declaration and can only be cancelled if no genuine firm exists. The Assessing Officer's refusal was deemed legally untenable as the firm had filed the necessary declaration, and profits were distributed in accordance with the partnership deed despite surrendered cash credits. The court emphasized the lack of evidence that the cash credits were not properly distributed, affirming the firm's entitlement to registration continuation. en-us Tue, 22 Feb 2005 00:00:00 +0530 Fri, 24 Jul 2009 12:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10747 The High Court interpreted section 184(7) of the Income-tax Act, 1961, ruling in favor of the assessee-firm for continuation of registration. The court held that registration is automatic upon filing the required declaration and can only be cancelled if no genuine firm exists. The Assessing Officer's refusal was deemed legally untenable as the firm had filed the necessary declaration, and profits were distributed in accordance with the partnership deed despite surrendered cash credits. The court emphasized the lack of evidence that the cash credits were not properly distributed, affirming the firm's entitlement to registration continuation. Case-Laws Income Tax Tue, 22 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10747