https://www.taxtmi.com/caselaws?id=71525 The Appellate Tribunal ITAT Pune ruled in an appeal against the addition of Rs. 1,89,900 under section 45(4) of the Income-tax Act for the assessment year 1991-92. The case involved the dissolution of a partnership firm, with the Assessing Officer adding the capital gain to the appellant's income. The Tribunal held that income under section 45(4) should be assessed only in the hands of the firm, not individual partners. It emphasized the necessity of determining the firm's income before assessing partners, ultimately deleting the addition from the appellant's income based on legal interpretation. en-us Tue, 21 Jan 1997 00:00:00 +0530 Mon, 25 Apr 2011 14:22:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71525 The Appellate Tribunal ITAT Pune ruled in an appeal against the addition of Rs. 1,89,900 under section 45(4) of the Income-tax Act for the assessment year 1991-92. The case involved the dissolution of a partnership firm, with the Assessing Officer adding the capital gain to the appellant's income. The Tribunal held that income under section 45(4) should be assessed only in the hands of the firm, not individual partners. It emphasized the necessity of determining the firm's income before assessing partners, ultimately deleting the addition from the appellant's income based on legal interpretation. Case-Laws Income Tax Tue, 21 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71525