https://www.taxtmi.com/caselaws?id=69811 The Tribunal concluded that the partnership was dissolved based on the agreement and factual circumstances, dismissing the argument for retirement. It held that there were no taxable profits under section 41(2) in case of retirement, aligning it with dissolution. The issue of liability under section 41(2) for assets taken over by the retiring partner was considered settled by Supreme Court precedents. The Tribunal affirmed its jurisdiction to address matters beyond the previous order's scope, dismissing the application as it did not raise valid legal questions. en-us Tue, 24 Nov 1981 00:00:00 +0530 Tue, 12 Apr 2011 12:06:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69811 The Tribunal concluded that the partnership was dissolved based on the agreement and factual circumstances, dismissing the argument for retirement. It held that there were no taxable profits under section 41(2) in case of retirement, aligning it with dissolution. The issue of liability under section 41(2) for assets taken over by the retiring partner was considered settled by Supreme Court precedents. The Tribunal affirmed its jurisdiction to address matters beyond the previous order's scope, dismissing the application as it did not raise valid legal questions. Case-Laws Income Tax Tue, 24 Nov 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69811