1991 (4) TMI 107

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on 256(1) of the Income-tax Act, 1961, for a reference of a question of law arising out of the order of the Tribunal was rejected by the Income-tax Appellate Tribunal by its order in R. A. No. 239/(Coch) of 1985. The Commissioner of Income-tax who is aggrieved by that order urges that question of law arises out of the order of the Tribunal and that it ought to be referred under section 256 of the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ation of the assets. Under clause (3), all the assets and liabilities of the business of M/s. Bharath Sea Foods except those reserved under clause (7) were taken over by Moosa as absolute and full owner. There is no reference in the deed of dissolution to the status of the business after the date of dissolution which may lead to an inference that Moosa took over the running business of the firm. ....