1983 (9) TMI 79

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....P. SINGH C.J.-This is a reference made by the Income-tax Appellate Tribunal referring for our answer the following questions of law : " (1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in holding that no fresh partnership deed is necessary when a minor attains majority ? (2) Whether, on the facts and in the circumstances of the case, the Ap....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ars 1974-75 and 1975-76 and set aside those orders. It was held by the Commissioner that because of the minor attaining majority, there was a change in the constitution of the firm and that continuation registration could not be granted. The Tribunal, in appeal filed by the assessee, relied on certain circulars and held that continuation of registration could not be refused simply because one of t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... two cases mentioned above. The correct view is that continuation of registration cannot be refused simply on the ground that a minor admitted to the benefits of the partnership has become a partner on attaining majority. But it can be refused on the ground that the eventuality of the minor becoming a partner on attaining majority was not foreseen in the deed of partnership and it does not provide....