TaxTMI 
TaxTMI 
2000 (10) TMI 17
X X X X Extracts X X X X
X X X X Extracts X X X X
....It was contended that there were 11 partners. The deed of partnrship which was subsequently registered was also produced. The Settlement Commission found that though there are 11 partners in the partnership deed, only seven of them had contributed to the bid amount and that in the circumstances there was no justification for registration of the firm. Learned counsel for the petitioner submitted that the aforesaid aspect is not of any significance in so far as the petitioner had explained the manner in which the sum of Rs. 11,30,000 which was deposited as 30 percent. of the total bid amount was collected, It was mentioned that the amounts actually due from the four partner namely, Marykutty, Kunha nandan Nambiar, Mathew Mathew and Alex Math....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ng Officer having jurisdiction to assess the firm, and shall be signed (a) by all the partners (not being minors) personally ; or (b) in the case of a dissolved firm, by all persons (not being minors) who were partners in the firm immediately before its dissolution and by the legal representative of any such partner who is deceased. Explanation.---In the case of any partner who is absent from India or is a lunatic or an idiot, the application may be signed by any person duly authorised by him in this behalf, or, as the case may be, by a person entitled under law to represent him. (4) The application shall be made before the end of the previous year for the assessment year in respect of which registration is sought : Provided that the As....
X X X X Extracts X X X X
X X X X Extracts X X X X
....to that effect, in the prescribed form and verified in the prescribed manner, so, however, that where the Assessing Officer is satisfied that the firm was prevented by sufficient cause from furnishing the declaration within the time so allowed, he may allow the firm to furnish the declaration at any time before the assessment is made. (8) Where any such change has taken place in the previous year, the firm shall apply for fresh registration for the assessment year concerned in accordance with the provisions of this section." It can be seen from the above that the registration for assessment as a firm is subject to various conditions, production of the partnership deed being only one among them. What is important in the matter is the aspec....
X X X X Extracts X X X X
X X X X Extracts X X X X
....rictions and conditions as the Government may direct was also taken note of while considering the importance of rule 6(22) aforementioned that the licensee shall not sell or otherwise transfer his contract or licence without the written consent of the Assistant Excise Commissioner concerned. By granting a licence under the Abkari Act what the successful bidder gets is a personal privilege and he cannot be allowed to share that privilege with others. When a bidder conveys his right in favour of the firm, the right that he got becomes restricted to the share of profits which may fall to his share from time to time. That indicates that by such conveyance of right, he actually transfers a portion of his exclusive privilege to deal in liquor co....