Income Tax Appellate Tribunal Itat Jabalpur Court September 1986 Judgments Home Cases Income Tax Appellate Tribunal Itat Jabalpur 1986 Page 1 of about 1 results (0.021 seconds)

Gift-tax Officer Vs. Mahboob Mohammad

Court : Income Tax Appellate Tribunal ITAT Jabalpur

Reported in : (1986)19ITD576Jab

1. These are two appeals by the revenue raising identical questions and, therefore, they are decided by this common order. We have heard the learned departmental representative and the learned counsel for the assessee and have perused the material placed before us. The facts are that there was a partnership firm consisting of Mahboob Mohd.(Respondent) in GT Appeal No. 12 of 1980 and Nasir Mohammed (Respondent) in GT Appeal No. 11 of 1982, each of whom had a 50 per cent share. On 30-9-1971, Nasir Mohd. retired from the said partnership and from 1-10-1971 the firm was reconstituted and the newly constituted firm took over the assets and liabilities of the old firm. In the new firm the share of Mahboob Mohd. was reduced from 50 per cent to 25 per cent and two new partners were taken and they were Niwazi Miya and Smt.Hajjan Sakuranbi, each having a share of 20 per cent and 10 per cent, respectively. Three minors were also admitted to the benefits of the partnership. They were Shakil Ahmed...