1980 (9) TMI 166

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....ration to the assessee firm for the asst. yr. 1975-76. 2. The ITO noticed during the course of assessment proceedings that although Form No. 12 had been filed within prescribed time under the law, it was not complete because it had not been signed by all the partners. In the asst. yr. 1975-76 there were 18 partners in the firm out of which only 13 partners signed Form No. 12. During the course ....

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....tioning and interpretation of the Act and that if the intention of the legislature was to insist on the signature of the partners who had left the firm, it would amount to an impossible situation in certain circumstances, namely, if the partner who has left the firm and is not traceable, or is at logger-heads with the existing partners, it would become impossible for a genuine firm to obtain regis....

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....grant continuation of registration by the ITO was not justified. He, therefore, allowed the appeal of the assessee. Hence this appeal by the Dept. 4. The ld. counsel for the assessee has filed a list of the 18 partners out of whom 5 partners retired from 31st March, 1975. The ld. counsel for the assessee has also filed a copy of the order of the ITO under s. 185(1) of the IT Act, 1961 (hereinaf....