TaxTMI 
TaxTMI 
2001 (2) TMI 282
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....ith the business of the assessee-firm. The CIT(A) reduced the said disallowance to Rs. 5,000. On the facts of the case, we uphold the order of the CIT(A). 3. The AO also disallowed an amount of Rs. 8,000 out of telephone charges claimed at Tinsukia and Rs. 6,000 out of similar telephone charges claimed at Calcutta on the ground of personal user of the telephone. The CIT(A) allowed relief of Rs. 3,000 out of each of the expenses items. Although he states that he restricted the disallowance in respect of the telephone charges at Calcutta of Rs. 5,000 actually, however, sustenance of that expenses appears to have been made Rs. 5,000 only. Looking into the facts of the case, we uphold the order of the CIT(A). 4. Disallowance of an amount of R....
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....hip business of Shri Nani Gopal Paul to the partnership concern, the AO discusses cl. 5 of the partnership deed in accordance with which all the assets and liabilities of the said business excluding, however, the trade mark and patent right, were transferred to the new firm. The AO, however, discusses in this connection that as the patent right was an integral part of the manufacturing process of Biri, the said patent right must be considered to have automatically been transferred by Shri Nani Gopal Paul to the assessee-firm. The AO, thus, ultimately came to the conclusion that as per the real intent of the partnership deed even the trade mark and the patent right should also be considered as having been transferred by Shir Nani Gopal Paul ....
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....yment was made in this regard to Shri Nani Gopal Paul. In this connection, the learned counsel for the assessee firstly relies on the discussions made by the Hon'ble Calcutta High Court at p. 756 of the reported judgment in the case of Narayan Prasad Vijaivargiya vs. CIT (1976) 102 ITR 748 (Cal) to the effect that a deed is required to be read and construed as a whole and, if possible, effect should be given to all parts thereof. The partnership deed clearly mentions not only the exclusion in respect of trade mark and copyright out of transfer of assets of the erstwhile proprietary business (cl. 5 of the partnership deed) but also the requirement of payment of royalty by the partnership firm to Shri Nani Gopal Paul at the rate of Rs. 5,000 ....