Supreme Court · 1966 INSC 238 · Decided 28 October 1966
Parekh Wadilal Jivanbhai v. Commissioner of Income Tax, M. P. Nagpur and Bhandara, Nagpur
- Court
- Supreme Court of India
- Citation
- 1966 INSC 238 · [1967] 1 S.C.R. 998
- Case number
- CIVIL APPEAL No. 1058/1965
- Decided
- 28 October 1966
- Bench
- J.C. SHAH, V. RAMASWAMI, VISHISHTHA BHARGAVA (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 26A
Headnote
JIVANBHAI I'. COMMISSIONER OF L"\"COME-Tl\X, M. P. NAGPUR Ai"ID BHANDARA, NAGPUR October 28, 1966 [J.C. SHAH, V. RAMASWAMI AND V. BHARGAVA, JJ.j Income-tax Act (11 of 1922), s. 26A-Registration of fimt-Whttlier individual shares oj partners specified-Partners/zip deed, construction that after meeting all the expensCIS, c mterest and other charges, the resulting net profit or loss should be ascer­ tained and divided amongst all the partners. Io the assessment year 1951-52, the three partners applied to the Income-tax Officer for registra- tion of the firm under s. 26A
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