https://www.taxtmi.com/caselaws?id=64054 The Tribunal allowed the appeal, canceling the assessment made on the dissolved firm for the assessment year 1972-73. It concluded that the amount of Rs. 66,892 could not be taxed in the hands of the dissolved firm under section 41(1) and that the reopening of the assessment under section 147(a) was not justified. The Tribunal also upheld the decision regarding the continuation of registration for the dissolved firm, aligning with the ITO's determination that the firm ceased to exist as of 31-12-1970. en-us Wed, 03 Aug 1988 00:00:00 +0530 Thu, 03 Feb 2011 14:33:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64054 The Tribunal allowed the appeal, canceling the assessment made on the dissolved firm for the assessment year 1972-73. It concluded that the amount of Rs. 66,892 could not be taxed in the hands of the dissolved firm under section 41(1) and that the reopening of the assessment under section 147(a) was not justified. The Tribunal also upheld the decision regarding the continuation of registration for the dissolved firm, aligning with the ITO's determination that the firm ceased to exist as of 31-12-1970. Case-Laws Income Tax Wed, 03 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64054