1993 (2) TMI 53

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....) of the Income-tax Act, 1961. The firm consists of seven partners and it was doing abkari business in the year 1988-89. The abkari licence was in the name of one of the partners, Karthikeyan, and the business of the firm was carried on under his licence. Registration was refused on the ground that there is a transfer of the licence from Karthikeyan to the petitioner-firm and that it was an infrac....

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....is pointed out that, on an examination of the relevant provisions of the Abkari Act, the Special Bench of the Tribunal came to the conclusion that, in such cases, there is no illegality committed in carrying on the business of the firm on an abkari licence issued to one of the partners and, therefore, registration may be granted. Since the only basis for the decision, exhibit P-4, is the earlier d....