question number 4 is relevant only for the assessment year 1950 51.
the revenue challenged this reconstitution of the firm and according to the revenue the singhania brothers never retired and the trust never became a partner.
from the judgment and order dated 4th august 1972 of the allahabad high companyrt in i.t.
according to the tribunal the loss on account of depreciation of an unregistered firm companyld number be carried forward to the succeeding year in case the firm got registered.
1371 72 nt of 1974.
reference number 426 of 1963.
m s j.k.
in january 1946 the three singhania brothers appeared to have retired from the firm and in their place the kamla town trust was alleged to have become partner.
it was so held by the tribunal.
civil appellate jurisdiction civil appeal number.
43963.
s. desai and m.m.
kashtriya for the respondent.
hosiery factory kanpur the assessee firm herein originally companysisted of sir padampat singhania l. lakshmipat singhania and l. kailashpat singhania and one p. agarwal as partners.
c. manchanda and miss a. subhashini for the appellant.
four questions were referred by the tribunal to the high companyrt under section 66 1 of the indian income tax act 1922 hereinafter called the act .
for the previous assessment year 1949 50 the firm had been allowed an unabsorbed depreciation of rs.
the firm claimed a set off thereof in the assessment year 1950 51.the tribunal refused to grant this set off on the view that in the year 1949 50 the assessee firm was an unregistered firm while it had been registered under the income tax act for the year 1950 51.
the judgment of the companyrt was delivered by sabyasachi mukharji j. these appeals by special leave are from the judgment and order of the division bench of the allahabad high companyrt dated 4th august 1972.
