1978 (12) TMI 6

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.... CHANDRA C.J.-The only question referred for our opinion is whether the assessee-firm was rightly treated as an unregistered firm for the assessment year 1969-70. Messrs. Prakash Khandsari Mills, the assessee-firm, carried on business under a deed of partnership dated June 19, 1963. The firm consisted of four partners. Each of them had a one-fourth share. Dal Singar Singh, one of the partners, ....

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....old partnership deed that the death of a partner will not cause dissolution yet, in fact, the partners decided to dissolve the firm which was at will, by not continuing that business and by closing the books of account as on September 20, 1968. He also emphasized that the preamble to the second partnership deed executed on April 2, 1969, also provided that after the death of Dal Singar Singh, the ....

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....rtnership deed not only says that the business was closed but further adds that a new business had come into existence with the three old partners and one Surya Nath Singh as a fresh partner. If the partnership constituted by the document of April 2, 1969, was a fresh partnership which came into existence after the dissolution of the old, all the partners would be treated as fresh partners and not....

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....relevant to the assessment year 1969-70. A Full Bench of this court in Badri Narain Kashi Prasad v. Addl. CIT [1978] 115 ITR 858 has held that it was not necessary to draw up fresh deed of partnership in cases where the pre-existing partnership deed gives the complete requisite information especially with regard to the identity of the partners and their shares after the change has occurred in the ....