https://www.taxtmi.com/caselaws?id=16641 The court found that a partnership firm conducting business in the arrack industry, where licenses were held by individual partners, violated public policy concerns under section 23 of the Contract Act. The partnership agreement allowing any partner to conduct auctions on behalf of the firm was deemed void for income tax purposes. Additionally, the partnership firm was denied registration benefits under the Income-tax Act, following precedents emphasizing the regulation of partnerships dealing with intoxicating liquors. The court ruled against the partnership firm, favoring the Revenue, and directed the judgment to the Income-tax Appellate Tribunal, Cochin Bench. en-us Thu, 24 Oct 1996 00:00:00 +0530 Wed, 09 Sep 2009 11:40:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16641 The court found that a partnership firm conducting business in the arrack industry, where licenses were held by individual partners, violated public policy concerns under section 23 of the Contract Act. The partnership agreement allowing any partner to conduct auctions on behalf of the firm was deemed void for income tax purposes. Additionally, the partnership firm was denied registration benefits under the Income-tax Act, following precedents emphasizing the regulation of partnerships dealing with intoxicating liquors. The court ruled against the partnership firm, favoring the Revenue, and directed the judgment to the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Thu, 24 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16641