TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Loss of Registered Status: Case on Firm Income from Insurance Commissions</h1> The High Court of Madras held that a firm lost its registered status from 1973-74 onwards due to ceasing business activity. Income from insurance ... Firm, Registration The High Court of Madras held that a firm, formed in 1964 and granted registration in 1966, ceased business in 1973-74. The firm's income from insurance commissions earned by a partner's relative could not be considered firm income as the firm did not have a license under the Insurance Act. The firm's registration was rightly cancelled from 1973-74 onwards. The Tribunal's decision was overturned, stating that a firm cannot retain registered status if it ceases business activity. The judgment favored the Revenue over the assessee.
TaxTMI 
TaxTMI 
