1995 (7) TMI 116

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.... firm was not genuine, the assessee was not entitled to registration. The assessee appealed. The first appellate authority set aside the order of refusal of registration on the ground that the assessee was not given an opportunity to file an application to condone the delay the matter of filing Form No. 11-A. Subsequently, the Assessing Officer condoned the delay and allowed registration under the Income-tax Act. Therefore, exercising his jurisdiction under section 263 of the Income-tax Act, the Commissioner of Income-tax held that the Assessing Officer's order granting registration to the assessee-firm was erroneous and prejudicial to the interests of revenue. He held that the assessee was doing banking business and the partners in the fir....

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....stration dated 19-8 85. (9) CIT's order under section 263 of the Act directing the Officer to refuse registration. (10) Order of the ITO under section 185(1)(a) of the Act granting registration. (11) CIT (Appeals) order in the original assessment. (12) Statement of facts and grounds of appeal before the CIT(Appeals). (13) Original assessment order under section 143 (3) dated 12-3-81. (14) Copy of the Deed of Partnership executed on 1-7-79. (15) Income & Expenditure A/c. and Balance-sheet for the year ended 31-3-80. (16) Assessment orders for the years 1977-78, 1978-79, 79-80 and 1981-82. The assessee has also furnished cash/transfer vouchers. The cash/transfer voucher is only an authority to withdraw money from the bank by pre....