1988 (6) TMI 27

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....ome-tax Act, 1961 : "Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the assessee, Shri Joysukhlal Sethia, cannot be assessed in the status of an association of persons, but that he should be assessed in the status of an individual in respect of his individual portion of the share of profits from the firm, Keshrichand Joysukhlal, for t....

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....the above facts, held that no separate partnership deed was drawn up but the partnership was governed by the earlier deed and so he treated the assessee along with his grandsons as forming an association of persons. The Appellate Assistant Commissioner, on the same facts, reversed the findings of the Income-tax Officer and held that the assessee cannot be taxed as an association of persons and tha....