https://www.taxtmi.com/caselaws?id=23462 The High Court of Madhya Pradesh ruled in favor of an assessee-firm, granting registration despite the failure to distribute losses among partners for assessment years 1978-79 and 1979-80. The court held that under the Income-tax Rules, 1962, the distribution of losses among partners was not a mandatory requirement for registration eligibility. Therefore, the court concluded that the assessee-firm was entitled to registration, overturning the Income-tax Officer's decision to assess the firm as unregistered. Each party was ordered to bear their own costs in the reference. en-us Mon, 13 Feb 1989 00:00:00 +0530 Sat, 19 Dec 2009 14:07:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23462 The High Court of Madhya Pradesh ruled in favor of an assessee-firm, granting registration despite the failure to distribute losses among partners for assessment years 1978-79 and 1979-80. The court held that under the Income-tax Rules, 1962, the distribution of losses among partners was not a mandatory requirement for registration eligibility. Therefore, the court concluded that the assessee-firm was entitled to registration, overturning the Income-tax Officer's decision to assess the firm as unregistered. Each party was ordered to bear their own costs in the reference. Case-Laws Income Tax Mon, 13 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23462