TaxTMI 
TaxTMI 
1967 (2) TMI 15
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....after referred to as the Tribunal), has submitted a statement of case and has referred, in accordance with the directions of this court, under section 66(2) of the Income-tax Act, 1922 (hereinafter referred to as the Act), the following question of law for the opinion of this court : " Whether, in the circumstances, the assessment completed against the firm on February 24, 1955, was a valid asse....
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....nt books relating to the business of Nand Kishore Jugal Kishore there existed a cash entry of Rs. 25,000 on May 3, 1949, in the account of the head office. The Income-tax Officer rejected the explanation of the assessee with regard to the source of Rs. 25,000 and added that amount to the assessable income of the assessee. The Appellate Assistant Commissioner upheld the assessment and dismissed the....
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....er . The Tribunal also observed, that, inasmuch as the question of legality of the assessment was not raised before the Appellate Assistant Commissioner, it could not be raised or agitated before the Tribunal. With these findings the Tribunal dismissed the appeal of the assessee. The assessee moved this court and, under section 66(2) of the Act, the instant reference has been made under the direc....
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....e or dissolution a partner of such firm or a member of such association shall, in respect of the income, profits and gains of the firm or association, be jointly and severally liable to assessment under Chapter IV and for the amount of tax payable and all the provisions of Chapter IV shall, so far as may be, apply to any such assessment. " This provision clearly shows that, even though a partner....