https://www.taxtmi.com/caselaws?id=49590 When an appellate order converted a firm's assessment from profit to loss, the Income-tax Officer had to reconsider afresh whether section 23(5)(b) of the Indian Income-tax Act could still be applied, because the earlier revenue-based foundation for treating the firm as registered had disappeared. Proviso (d) to section 24(2) was read as an enabling provision limited to years in which the firm was treated as registered under section 23(5)(b); it could not be used as a general power to carry an unregistered firm's loss to the partners' accounts regardless of the Revenue's interest. A writ of mandamus could issue to require the officer to apply the statute correctly and reconsider the matter lawfully. en-us Tue, 05 May 1959 00:00:00 +0530 Thu, 04 Sep 2014 13:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49590 When an appellate order converted a firm's assessment from profit to loss, the Income-tax Officer had to reconsider afresh whether section 23(5)(b) of the Indian Income-tax Act could still be applied, because the earlier revenue-based foundation for treating the firm as registered had disappeared. Proviso (d) to section 24(2) was read as an enabling provision limited to years in which the firm was treated as registered under section 23(5)(b); it could not be used as a general power to carry an unregistered firm's loss to the partners' accounts regardless of the Revenue's interest. A writ of mandamus could issue to require the officer to apply the statute correctly and reconsider the matter lawfully. Case-Laws Income Tax Tue, 05 May 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49590