https://www.taxtmi.com/caselaws?id=17512 The High Court denied registration to the firm, Jayalakshmi Oil Firm, Khammam, for the assessment year 1976-77. Despite the Income-tax Appellate Tribunal's approval based on non-sharing of secret profits, the High Court found the firm ineligible due to a partner's benami status, as per section 185 of the Income-tax Act. The court emphasized that a firm with a benamidar partner cannot be considered genuine, citing evidence and legal provisions. The decision was influenced by the partner's undisclosed benami relationship, leading to the firm's disqualification for registration. en-us Fri, 27 Dec 1996 00:00:00 +0530 Wed, 23 Sep 2009 10:40:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17512 The High Court denied registration to the firm, Jayalakshmi Oil Firm, Khammam, for the assessment year 1976-77. Despite the Income-tax Appellate Tribunal's approval based on non-sharing of secret profits, the High Court found the firm ineligible due to a partner's benami status, as per section 185 of the Income-tax Act. The court emphasized that a firm with a benamidar partner cannot be considered genuine, citing evidence and legal provisions. The decision was influenced by the partner's undisclosed benami relationship, leading to the firm's disqualification for registration. Case-Laws Income Tax Fri, 27 Dec 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17512