- (1.) HEARD learned Counsel for the parties.
(2.) THIS is an assessee's appeal against the order of the Tribunal dated 18 -3 -1999 (Annex. 9). The appeal was admitted on 23 -7 -2001, by framing following substantial question of law: Whether in the facts and circumstances of the case, when the appellant firm has taken a stand that 9 godowns in question have been given to the partners of the firm in lieu of their share profit sharing ratio in profit, the taxability of the firm in respect of income from house property from godowns in question could be subject to tax without examining the question of ownership vis -a -vis entitlement to receive rents ? From the look at the impugned order dated 18 -3 -1999, (Annex. 9), it transpires that thereby two appeals were decided, being Appeal Nos. 471 and 472/Jp/1983, which related to the asst. yrs. 1979 -80 and 1980 -81 respectively. This order was passed consequent upon the opinion given by this Court, in reference, being D.B. IT Ref. No. 33 of 1985 vide judgment dated 21 -7 -1994, answering the question in favour of the department, and against the assessee. Prior to this, earlier order was passed by the learned Tribunal on 28 -7 -1984, whereby, both the appeals being IT Appeal Nos. 471 and 472/Jp/1983 were allowed.
(3.) THE necessary facts are, that the assessee is a partnership firm, and during the continuance of business, a document came to be executed on 31 -1 -1979, whereby, nine godowns were given to the respective partners, in proportion of their sharing profits. The question thereupon arose was, that since the document of 31 -1 -1979 was not registered, the assessee was assessed for the income of these nine godowns, treating the assessee to be continuing to be holder of the assets.;