https://www.taxtmi.com/caselaws?id=61740 The ITAT ruled in favor of the revenue, determining that the transfer of assets was by the firm, not by individual partners. The firm was found to be dissolved on 24-6-1974, not on 12-4-1974 as claimed. Capital gains and profits under section 41(2) were deemed taxable in the hands of the firm. The ITAT rejected the assessee-firm's arguments, concluding the appeal in favor of the revenue. en-us Mon, 31 Oct 1983 00:00:00 +0530 Fri, 14 Jan 2011 16:09:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61740 The ITAT ruled in favor of the revenue, determining that the transfer of assets was by the firm, not by individual partners. The firm was found to be dissolved on 24-6-1974, not on 12-4-1974 as claimed. Capital gains and profits under section 41(2) were deemed taxable in the hands of the firm. The ITAT rejected the assessee-firm's arguments, concluding the appeal in favor of the revenue. Case-Laws Income Tax Mon, 31 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61740