1988 (2) TMI 41

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.... the Revenue, the Income-tax Appellate Tribunal, Delhi Bench " A ", New Delhi, has referred the following question for our opinion: " Whether, on the facts, and in the circumstances of the case, the Tribunal was correct in holding that there could not be said to be any change in the constitution of the firm in this case and, as such, the Tribunal was correct in confirming the order of the Appel....

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....the three partners divided their shares in equal share ratio in the books of account and not as per the instrument dated December 20, 1968. He, therefore, took the view that there was a change in the constitution of the firm and hence refused to grant registration. The matter was carried in appeal before the Appellate Assistant Commissioner and then it was contended on behalf of the assessee th....

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....iew that had the parties genuinely executed the supplementary deed dated May 4, 1969, they would not have stated their share ratio in the application Form No. 11 as 40 : 40 : 20, but they would have stated the correct share ratio as in the said Form No. 11. For these reasons, he again refused to grant registration to the assessee-firm. The dispute was then carried in appeal to the Appellate Ass....

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.... : " (2) For the purposes of this section, there is a change in the constitution of the firm (a) if one or more of the partners cease to be partners or one or more new partners are admitted, in such circumstances that one or more of the persons who were partners of the firm before the change continue as partner or partners after the change ; or (b) where all the partners continue with a chan....