- (1.) Messrs. Bhikharilal Ram Kumar was a partnership firm constituted under a deed dated October 6, 1957. It consisted of three partners. Two minor sons of one of the partners were also admitted to the benefits of this partnership. One of the minors attained majority on June 14, 1966. No new partnership deed was drawn up. The Assessee sought the benefit of continuance of registration by applying in Form No. 12 on August 12, 1967 for the Assessment year 1967-68. The relevant previous year for this assessment year ended on October 22, 1966. It is thus evident that the minor attained majority before the expiry of six months from the end of the previous year.
(2.) The Income Tax Officer refused to renew the registration on the ground that with the attainment of majority by the minor, a change in the constitution of the firm had taken place and the firm should have applied for a fresh registration, which had not been done. He also found that the firm had not executed a fresh partnership deed. This view was upheld on appeal by the Appellate Assistant Commissioner as well as the Tribunal.
(3.) At the instance of the Assessee, the Tribunal has referred the following question of law for our opinion :- ;Whether, on the facts and in the circumstances, of the case, the Tribunal was justified in holding that the assessee firm was not entitled to status of a registered firm for the assessment year 1967-68 ?;