ABDUL SHAKOOR AND CO Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is a reference made by the Income-tax Appellate Tribunal, Patna Bench, Patna (hereinafter referred to as the Tribunal) under section 66(1) of the Income-tax Act, 1922 (hereinafter referred to as the Act), at the instance of the assessee, Messrs. Abdul Shakoor & Co. (hereinafter referred to as the assessee).

(2.) THE statement of the case relates to the assessment years 1956-57 and 1957-58.

(3.) THE assessee alleged that Sarvsri Abdul Rauf, Mohd Ayub and Mohd. Daud formed a partnership with Abdul Shakoor with effect from July 1, 1955, to the benefits of which the minor son, Abdul Wadood, was also admitted. According to the assessees, the shares of the partners were as under <FRM>JUDGEMENT_467_ITR69_1968Html1.htm</FRM>