1984 (9) TMI 76

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.... Sabir Sarvar Mistry. The business commenced from 1st April, 1978. The business commenced from 1st April, 1978. The partnership is registered with the Registrar of Firms on 27th July, 1978. The business of the partnership consist of doing job work of water porting terrace, tanks etc. relating to civil construction work. There are no books of accounts in the form of cash book., ledger, etc. But there is a bank account, where all the receipts are deposited and from which withdrawals are made as much for incurring expenses for the business as for dividing the profits amongst the partners in equal proportion. Although there are no books of accounts kept in the form asked for by the ITO, the return was accompanied by a statement of allocation of....

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....ement sent along with the return showing the actual allocation has some sanctity about it and it is for the ITO to prove that the actual division has not been made in the manner shown in the statement accompanying the return. The ITO has not done any such thing. The ITO has also not given any reason why he considers the firm as not genuine. 4. Elaborating his arguments further, Shri Desai invited our attention to certain case law. In particular, he referred to Kerala judgment in the case of V.K. Kurien & K.P. George vs. CIT (1967) 63 ITR 675. (Ker). He also referred to M.P. judgment in CIT vs. Madanlal Chhaganlal (1963) 50 ITR 477 (MP) and Allahabad judgment in (1972) 86 ITR 203 (All) (Chitra Cinema vs. CIT). Accordingly, it was submitte....