1979 (7) TMI 69

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....see-firm consisted of 5 partners with two minors admitted to its benefits, being constituted by a deed of partnership dated 29th October, 1965. The minors were Sri Krishna Chandra and Sri Manoj Kumar. The present reference is concerned with the assessment year 1968-69 for which the relevant accounting period ended on 12th November, 1967. Krishna Chandra, one of the two minors, became major on 12th....

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....w that the assessee was not entitled to the benefit of registration even for that part of the previous year during which Krishna Chandra continued to be a minor. In taking this view the Tribunal drew support from the decision of this court in CIT v. Wajid Ali Abid Ali [1972] UPTC 532 (All). At the instance of the assessee, the Tribunal has referred the following two questions for our opinion : ....

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....ged partner ? " Both the decisions, that is, in Ganesh Lal's case [1968] 68 ITR 696 (All) and Wajid Ali's case [1972] UPTC 532 (All), now stand overruled by the Full Bench decision of this court in the case of Badri Narain Kashi Prasad v. Addl. CIT [1978] 115 ITR 858. It has been held that a change in the constitution of the firm does not take place in every case where a minor becomes major. Th....