1985 (8) TMI 4

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....is granted in the above mentioned two petitions. These appeals by special leave arise out of a decision and judgment of the Punjab and Haryana High Court in respect of the assessment year 1960-61, under the Indian I.T. Act, 1922, holding that the registration of the firm was wrongly refused. A reference was made under s. 66(2) of the Indian I.T. Act, 1922, to the High Court in respect of the fo....

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.... his studies on January 29, 1959. It was found by the Tribunal that Rabinder Kumar had not signed the application but indeed he was away in U.S.A. from January 29,1959. This finding was not challenged by the assessee before the High Court. The Tribunal held that the firm was not genuine and the application was not proper as Rabinder Kumar had not signed and the application for registration of the ....

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....p, specifying the individual shares of the partners; (ii) an application on behalf of, and signed by, all the partners and containing all the particulars as set out in the Rules must be made; (iii) the application should be made before the assessment of the firm under section 23, for that particular year; (iv) the profits or losses, if any, of the business relating to the accounting year should be....

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.... that the application for registration must be made within a period of six months of the constitution of the firm or before the end of the " previous year " of the firm, whichever is earlier, if the firm was constituted in that previous year. Neither of these conditions was fulfilled in the facts and circumstances of the case as found by the Tribunal and these were not negatived by the High Court.....