https://www.taxtmi.com/caselaws?id=17978 The High Court ruled against the Revenue, holding that the firm's registration could not be cancelled based on misallocation of profits. The Court emphasized that procedural compliance for registration was met, and the firm was genuine. It stated that profit allocation issues should be addressed during assessment, not through cancellation of registration. The Court found in favor of the assessee, concluding that the cancellation of registration was unjustified. The reference was disposed of with no order as to costs. en-us Mon, 09 Dec 1996 00:00:00 +0530 Sat, 26 Sep 2009 10:34:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17978 The High Court ruled against the Revenue, holding that the firm's registration could not be cancelled based on misallocation of profits. The Court emphasized that procedural compliance for registration was met, and the firm was genuine. It stated that profit allocation issues should be addressed during assessment, not through cancellation of registration. The Court found in favor of the assessee, concluding that the cancellation of registration was unjustified. The reference was disposed of with no order as to costs. Case-Laws Income Tax Mon, 09 Dec 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17978