1982 (5) TMI 37

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.... judgment of the court was delivered by SURINDER SINGH J.-The prayer made in this petition under s. 256(2) of the I.T. Act, 1961, filed by the Commissioner of Income-tax, Patiala-II, Patiala, is for the issue of a direction to the Income-tax Appellate Tribunal, to refer the following question of law-to this court, which is said to arise out of the order of the Tribunal : "Whether, on the fac....

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....ffect from May 31, 1969. During the assessment for the year 1970-71 relating to that firm, the loss of the firm for the period ending May 31, 1969 (the date on which Ved Parkash ceased to be a partner) was determined at Rs. 40,472 and the share of the loss of Ved Parkash was, thus, allocated at Rs. 10,591. It transpires that after ceasing to be partner of the firm, M/s. Hargolal and Sons, the asse....

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.... also rejected. The present petition has consequently been filed with the prayer for issue of the necessary direction to the Tribunal. After hearing the learned counsel for the petitioner, we find that there is no ground made out for varying the decision of the Tribunal. Two basic facts which emerge in the case are that Ved Parkash had ceased to be a partner of the firm, M/s. Hargolal and Sons ....