https://www.taxtmi.com/caselaws?id=17761 A partnership firm carrying on jewellery business cannot rely on a gold licence issued only to one partner where the firm itself is the dealer under the Gold (Control) Act, 1968. Section 27 prohibits dealing in gold without a valid licence, and Rule 7 of the Gold Control (Forms, Fees and Miscellaneous Matters) Rules, 1968 makes the licence non-transferable and non-saleable. Use of an individual partner's licence by the firm is treated as an impermissible transfer. On that basis, the firm is in breach of the licensing provisions, and registration or continuation of registration is not available on the strength of the partner's licence. en-us Wed, 05 Mar 1997 00:00:00 +0530 Thu, 24 Sep 2009 16:16:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17761 A partnership firm carrying on jewellery business cannot rely on a gold licence issued only to one partner where the firm itself is the dealer under the Gold (Control) Act, 1968. Section 27 prohibits dealing in gold without a valid licence, and Rule 7 of the Gold Control (Forms, Fees and Miscellaneous Matters) Rules, 1968 makes the licence non-transferable and non-saleable. Use of an individual partner's licence by the firm is treated as an impermissible transfer. On that basis, the firm is in breach of the licensing provisions, and registration or continuation of registration is not available on the strength of the partner's licence. Case-Laws Income Tax Wed, 05 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17761