- (1.) This is a reference under Section 66(1) of the Income-tax Act in proceedings for registration of a firm Juggilal Kamlapat, Calcutta, under Section 26A of the Income-tax Act.
(2.) The facts as set out in the statement of the case are as follows: Prior to the assessment year 1943-1944, the three Singhania brothers, Sir Padampat Singhania, Kamalapat Singhania and Lakshmipat Singhania, used to carry on a hosiery business at Belur under the name and style of Messrs. Juggilal Kamlapat. The business was a branch of a business of the same name, at Cawnpore.
(3.) On November 29, 1939, a partnership deed in respect of the said business was entered into between the said Singhania brothers and one Jhabbarmal Saraf, who was taken in as a new partner; the share of each being 4 as.;