https://www.taxtmi.com/caselaws?id=69291 The ITAT Madras held that two firms with identical partners and profit-sharing ratios should be assessed separately as they operated distinct businesses with no interlacing of finances. Despite common partners, the firms were deemed separate entities for income tax purposes, leading to the setting aside of the CIT's order and upholding the assessment made by the ITO in favor of the assessee. en-us Thu, 10 May 1979 00:00:00 +0530 Wed, 06 Apr 2011 11:13:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69291 The ITAT Madras held that two firms with identical partners and profit-sharing ratios should be assessed separately as they operated distinct businesses with no interlacing of finances. Despite common partners, the firms were deemed separate entities for income tax purposes, leading to the setting aside of the CIT's order and upholding the assessment made by the ITO in favor of the assessee. Case-Laws Income Tax Thu, 10 May 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69291