https://www.taxtmi.com/caselaws?id=61848 The Tribunal allowed the appeal of a dissolved firm in a taxation case involving an arbitration award received post-dissolution. The assessing officer sought to tax the amount under section 41(1) of the Income Tax Act, but the firm argued for individual partner assessment under section 176(3A). The Tribunal ruled in favor of the firm, emphasizing that the income accrued post-dissolution and could not be linked to pre-dissolution disputes. It clarified the application of section 189(1) and section 176(3A), setting a precedent for assessing income of dissolved firms in cases of succession. en-us Wed, 28 Apr 1993 00:00:00 +0530 Sat, 15 Jan 2011 16:19:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61848 The Tribunal allowed the appeal of a dissolved firm in a taxation case involving an arbitration award received post-dissolution. The assessing officer sought to tax the amount under section 41(1) of the Income Tax Act, but the firm argued for individual partner assessment under section 176(3A). The Tribunal ruled in favor of the firm, emphasizing that the income accrued post-dissolution and could not be linked to pre-dissolution disputes. It clarified the application of section 189(1) and section 176(3A), setting a precedent for assessing income of dissolved firms in cases of succession. Case-Laws Income Tax Wed, 28 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61848