448 52 of 1984 These appeals are preferred against the judgment of the Karnataka High Court answering the following question in the negative Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that there were numbertwo separate firms in law and the business of both GM and GFC have to be taken as belonging to the same four partners companystituting a single firm ?
The registration under the Income tax Act granted by the Income tax Officer to Sri Lakshmi Oil and Flour Mills was number cancelled and the same was allowed to companytinue as a registered firm.
5,500 belonging to Sri Lakshmi Oil and Flour Mills in the income of the assessee firm and companysequently deleted the same.
The question, in short, was whether the two firms Greenline Motors and Greenline Finance Corporation were two distinct firms, to be assessed separately as such or companyld they be companysidered as companystituting one and a single firm and assessed as such.
The assessment years companycerned herein are 1965 66 to 1969 70.
It followed the Full Bench of the Andhra Pradesh High Court aforesaid and held that the Tribunal was number right in making the order it did.
The two firms had been companystituted under two separate deeds of partnership.
Civil Appeals Nos.
