2000 (9) TMI 61

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....C. J.--- At the instance of the Revenue, the following question has been referred by the Income-tax Appellate Tribunal, Delhi Bench-C (in short "the Tribunal"), under section 256(1) of the Income-tax Act, 1961 (in short "the Act"), for the opinion of this court : "Whether, on the facts and in the circumstances of the case, the Tribunal is correct in law in allowing registration to the assess....

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....---------------- Shri Akhil Kr. Rastogi 25/80 Son Shri Deep Kr. Rastogi 25/80 Son Smt. Chandrakanta Devi Rastogi 25/80 Mother Shri Mahesh Kr. Rastogi 5/80 Son ---------------------------------------------------------------------------------------------------------------------------------------------------- Prior to July 1, 1970, there was a differently constituted firm which was ....

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....ted as per the constitution of the firm which existed prior to July 1, 1970, due to clerical error. There was as such no crediting of profit of the year to the accounts of the partners in the books of account of the relevant year. This wrong allocation was made only in the statement of accounts submitted for assessment. On being aware of the clerical error, the assessee credited the shares of prof....