Rc/7/2004 Of Commissioner Of Incometax v. M/S. Mahalaxmi Corpn. Hyderabad

THE HON’BLE SRI JUSTICE DILIP B.BHOSALEAND THE HON’BLE SRI JUSTICE A.RAMALINGESWARA RAO REFERRED CASE No.7 of 2004 ORDER:(per the Hon’ble Sri Justice Dilip B.Bhosale) This Referred Case was registered in view of the reference madeby the Income Tax Appellate Tribunal, Hyderabad Bench ‘A’ on10.01.2003. It pertains to the assessment year 1983-84. From therecord, we find an endorsement that “in spite of several reminders, theRevenue has not filed required annexures”. Till today, the respondentassessee has not been served. 2. The only question referred to was whether the partnership firmdeserves registration in view of the fact that one of the adult partnerswas only to share profits with the other partners without anyresponsibility for any liability to share the losses of the firm. The firm,with seven partners, was constituted and a partnership deed wasexecuted on 21.11.1981. Clause 13 of the deed provided that the losseswould be shared only by six partners, while the profits would be sharedby all of them. 3. In the circumstances, we are constrained to dismiss thisReferred Case for non-prosecution. Order accordingly. There shall beno order as to costs. ______________________ DILIP B.BHOSALE, J ______________________________ A.RAMALINGESWARA RAO, J