1989 (2) TMI 27

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....was delivered by B. P. JEEVAN REDDY J. -The Income -tax Appellate Tribunal, Hyderabad, has referred the following question under section 256(1) of the Income tax Act, 1961 "Whether, on the facts and circumstances of the case, the Tribunal is justified in upholding the refusal of registration of the firm by the lower authorities ?" The assessee filed a return in respect of the partnership ....

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....ailed to produce the books, he assessed the income at Rs. 20,000 to which the assessee agreed. No appeal was preferred against the, order of assessment. Appeal was preferred only against the order refusing registration.; In this appeal, the Appellate Assistant Commissioner agreed with the Income-tax Officer that the assessee had not satisfactorily explained the loss of books. He was of the opinion....