1991 (11) TMI 16

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....6(2) of the Income-tax Act, 1961 ( hereinafter to be referred to as the " Act the following two questions have been raised : "1. Whether, on the facts and in the circumstances of the case, in view of the individual assessment of the partners having been completed prior to the assessment of the firm, the firm could not be refused registration under the Income-tax Act, 1961 ? 2. Whether on the....

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.... has submitted that, in the present case, the question of interpretation of the clauses of the partnership deed and the provisions of the Income-tax Act is required in the sense that, if a partner has not contributed any capital but has undertaken liability for losses, still whether it could be said that a genuine partnership has come into existence or not. The assessment of partners was completed....