1991 (1) TMI 58

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....n 256(2) of the Income-tax Act, 1961, the following question has been stated by the Income-tax Appellate Tribunal, Delhi Bench 'A', New Delhi : "Whether, on the facts and in the circumstances of the case, the Tribunal was legally correct in upholding the Appellate Assistant Commissioner's order that only 50 per cent. of the income from the business styled as Messrs. Moradabad Gun House, Moradab....

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....er, however, refused to accede to the said plea and included the entire income from the said business in the individual assessment of the assessee. On appeal, the Appellate Assistant Commissioner allowed the appeal holding that inasmuch registration has been granted to the aforesaid partnership firm, the assessee's share must be only half of the income arising from the said business. This view has....