R.R. Rastogi, J.

1. THE Income-tax Appellate Tribunal, Delhi Bench "A", has referred the following question of law for the opinion of this court:

"Whether, on the facts and in the circumstances of the case, the Tribunal was correct in holding that the Income-tax Officer was justified in cancelling the registration granted to the assessee-firm under Section 186(1) for the assessment years 1965-66, 1966-67 and 1967-68 ?"

2. THE facts leading to the present reference briefly stated are, that the applicant, M/s. Bhagat Shyam and Company, was a partnership concern constituted under a partnership deed executed on March 10, 1963. Mela Ram, Bhagat Ram and Govind Ram having Rs. 0-2-0, 0-3-0 and 0-3-0 shares, respectively, were the partners of the assessee-firm and Shyam Sundar and Radhey Shyam, minors were admitted to the benefits of the partnership and were given Rs. 0-4-0 share each in the profits of the firm. THE minors were not to share the losses which were to be borne by the three partners as under:

Govind Ram and Bhagat Rarn 371/2 % each and Mela Ram 25% THE assessee-firm followed the financial year as its year of accounting. It was granted registration for the assessment year