Mere reconstitution of partnership firm not amount to splitting up of business already in existence

HIGH COURT OF DELHI Commissioner of Income-tax Versus Arts Beauty Exports IT APPEAL NOS. 79 & 80 OF 2012 SEPTEMBER 17, 2012 JUDGMENT R.V. Easwar, J.   These are two appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961 (“Act” for short). They relate to the assessment years 2006-07 and 2007-08 and are directed against a common order passed by the Income Tax Appellate Tribunal (‘Tribunal’ for short) on 3rd June, 2011 in ITA Nos.2955 & 2956/Del/2010. The following questions, which are common to both the years, are sought to b...