1984 (6) TMI 72

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....igned by five partners. The IAC found that during the accounting year there were six partners and one of them, Shri J. Shamsunder, had not signed. The assessee explained that Shamsunder ceased to be a partner with effect from 3-4-1981 and a fresh deed of partnership was drawn up on 4-4-1981. Hence, Shamsunder has not signed. The IAC held that the new partnership deed will be applicable for the ass....

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.... Court in S.V. Ratnaswamy & Sons' case has held that the furnishment of declaration contemplated by the second proviso to section 184(7) of the Income-tax Act, 1961, is by the ' firm ' alone, which, in turn, would only mean its partners as constituted at the time of making the declaration. It is those partners who would be adversely affected in consequence of non-continuance of registration. In ou....