2003 (9) TMI 13

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....J. - Heard learned counsel for the parties. On the application filed under section 256(1) of the Income-tax Act, 1961, the Income-tax Appellate Tribunal, Jaipur Bench, Jaipur (for short "the Tribunal"), referred the following question for our opinion: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that M/s. Hazarimal Milapchand Soorana and M/s. Ma....

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....ed them separate registration number treating them as genuine; even separate registration under the Income-tax Act, 1961, has been granted to the firm, Mannalal Nirmal Kumar Soorana and Company. There cannot be two views unless a partnership firm is genuine, no registration can be granted. Subsequently, the registration has been withdrawn but in that year also the Tribunal gave a direction to gran....