JUDGEMENT
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(1.)This reference arises out of the income-tax assessments of Bose Brothers as a partnership firm for the assessment years 1956-57, 1957-58 and 1958-59. The material facts available from records are as follows : On May 24, 1948, by a deed of partnership, executed by Sudhansu Kumar Bose, Biraj Bose and Tarachand Bose, three sons of one Shamendra Kumar Bose, a partnership was sought to be constituted under the name and style of Bose Brothers. It was recorded in the deed, inter alia, that Shamendra who had been carrying on business in the name and style of M/s. Bose & Co., at No. 76, Benaras Road, Hovvrah, as a sole proprietor had retired from the said business in 1349 B.S. and that the same was given in gift to his said three sons, in equal shares, for being carried on in co-partnership, each partner having 1/3rd share. Tarachand was a signatory to the said deed.
(2.)The partnership claimed and was granted registration under the I.T. Act for the relevant assessment years and was assessed as a registered partnership.
(3.)In the assessment proceedings for the assessment year 1959-60, it was found that Tarachand had been born in 1940 and was a minor on May 24, 1948, the date on which the said partnership deed was executed. A notice was issued to the partnership to show cause why its registration for the relevant assessment years should not be cancelled under Rule 6B of the Indian I.T. Rules, 1922, on the ground that the partnership was invalid.