1988 (6) TMI 16

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....The Income-tax Appellate Tribunal referred the following question under section 256(1) of the Income-tax Act, 1961 "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is justified in confirming the order passed by the Commissioner of Income-tax (Appeals) directing grant of registration to the firm for the assessment year 1977-78 ?" The relevant facts are that ....

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....ave not produced the account books called for to show that the profits/losses have been distributed in accordance with the terms of the partnership deed, and (ii) that inasmuch as the assessment has been completed under section 144, the firm is not entitled to registration. Against this order, the assessee filed an appeal. The Appellate Assistant Commissioner, in an elaborate order, accepted the e....

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....ssessment under section 144 disappears. If that is so, there will be equally no justification for refusing registration either under subsection (5) of section 185 or under clause (b) of sub-section (1) of section 185. In this view of the matter, it is unnecessary to go into the question whether sub-section (5) of section 185 applies only for cancellation of registration or applies equally for refu....