( 1 ) THESE four matters have been heard together and the questions of fact and law are common. The facts are briefly as follows:--

( 2 ) THE petitioner In all these applications Is a partnership firm duly constituted under the Indian Partnership Act. It Is stated that" the firm was established as early as 1894 and has continued all along, except for reconstitution of the personnel from time to-time, with the death or retirement of a partner and/or admission of a new partner or legal heir of a deceased partner. It appears also that the partnership deed was accordingly changed from time to time. A partnership deed was executed on or about November 14, 1949 and another on or about July 2, 1953. The latest partnership deed is dated 31st August 1954. In these applications we are concerned with the Income-tax Assessment years 1950/51, 1951/52, 1952/53 and 1953/54. For all these years, the firm has been assessed as a registered firm, that Is to say, registered under the Indian Income-tax Act. In other words, it was registered under Section 26a of the Indian Income-tax Act and assessed as a registered firm in accordance with Section 23 (3) read with Section 23 (5) (a) of the sa