S.K. MAL LODHA, J.— The Income Tax Appellate Tribunal, Jaipur Bench (hereinafter referred to as the Tribunal has referred the following questions of law which arise out of its order dated April 22,1974 for our decision :—

"1. Whether on the facts and in the circumstances of the case and on a correct interpretation of the partnership deed the Tribunal was justified in holding that the partnarship existed orally all along with effect from 1.4. 1967 and that the partnership had not come into existence only from 27.1.1968 onwards ?

2. If the answer to the above question be in the negative, was the Tribunal justified in holding that the firm was entitled to registration under the Income-tax Act, 1961 for the assessment year 1968-69?"

2. Shri Rahmat Khan is a partner in M/s New Friends & Co., Dhamani Market, Jaipur. He had 12-1/2% share in the profit and loss of that Firm, for the accounting period corresponding to assessment year 1968-69 which began on April 1, 1967 and ended on March 31, 1968, Shri Rahmat Khan entered into an agreement of partnership with one Shri Faizu Khan s/o Molabux in respect of his share of 12-1/2% in M/s New Friends & Co. The formal partnership deed was drawn on Ja

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