https://www.taxtmi.com/caselaws?id=14694 The Court ruled in favor of the assessee, upholding the registration granted by the Tribunal for the assessment year 1972-73. The error in profit allocation, attributed to a clerical mistake, was promptly rectified by crediting profits as per the partnership deed. The Court found the firm's explanation credible, emphasizing the timely rectification and genuine nature of the firm. The correct profit allocation per the partnership deed was ensured before the assessment was finalized, leading to the Court's decision in favor of the assessee and against the Revenue. en-us Wed, 06 Sep 2000 00:00:00 +0530 Sat, 18 Jul 2009 11:07:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14694 The Court ruled in favor of the assessee, upholding the registration granted by the Tribunal for the assessment year 1972-73. The error in profit allocation, attributed to a clerical mistake, was promptly rectified by crediting profits as per the partnership deed. The Court found the firm's explanation credible, emphasizing the timely rectification and genuine nature of the firm. The correct profit allocation per the partnership deed was ensured before the assessment was finalized, leading to the Court's decision in favor of the assessee and against the Revenue. Case-Laws Income Tax Wed, 06 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14694