Judgment

HEGDE, J.: - This is an appeal by special leave. The appellant is the assessee. In this case we are concerned with his assessment for the assessment year 1958-59. The relevant previous year ended on March 31, 1958. The assessee firm applied for renewal of its registration under Section 26A of the Indian Income Tax Act 1922 (in short the Act ) before the Income Tax Officer on May 26, 1958. In that application he mentioned that the previous years income had been divided among the partners. The Income-tax Officer rejected that application. He did not believe the version of the assessee that the previous years income had been divided. In appeal, the Appellate Assistant Commissioner agreed with the conclusion reached by the Income-tax Officer. On a further appeal being taken to the Income-tax Appellate Tribunal the Tribunal agreed with the conclusions reached by the lower authorities. Before the Tribunal yet another contention appears to have been taken. That contention was that at any rate the partners having divided the income of the previous year as evidenced by the balance sheet before the assessment was made, the assessee firm was entitled for its registration under Sect