The Income-Tax Appellate Tribunal, Gauhati Bench, Gauhati, for short "the Tribunal", has referred the following question of law, as required by the High Court, U/s. 256 of the Income-tax Act, "the Act" for short :

"Whether on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that no valid partnership firm was if existence during the accounting year relevant to the assessment year 1967-68 and thereby upholding the order of refusal of registra­tion of the assessee firm by the Income-tax Officer and the Appellate Assistant Commissioner in spite of the deed of partnership dated 7.1.67 as rectified by the notification (sic. rectification) deed dated 2.12.69 ?"

2. An Apercu of the case leading up to this reference :-

M/s. Singh Brothers and Company was constituted by an instrument of partnership dated October 31, 1962 consisting of six partners. The partners had unequal shares in the profit and the loss. The shares of profit and loss belonged to and borne by Shri Ramnagina Singh @ 40%, Shri Ram Bahadur Singh @ 20% and the rest of the four partners @ 10% each, Subsequently, the leading partner Shri Ramnagina Singh died. A fresh deed was ex