https://www.taxtmi.com/caselaws?id=97141 The note addresses two linked issues: whether a partnership was dissolved by partner resolutions and whether a subsequently incorporated private company is the same entity as that partnership. The factual finding was that the partnership was not dissolved. Legally, incorporation created a distinct corporate personality; transfers of buses to the company vested ownership in the company and similarity of business or promoter motive did not negate that separateness. Absent proof of fraud or exceptional grounds to pierce the corporate veil, the company cannot be compelled to render partnership accounts; any remedy against partners lies in an action for damages. en-us Wed, 10 Oct 1951 00:00:00 +0530 Sat, 14 Jan 2012 11:57:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97141 The note addresses two linked issues: whether a partnership was dissolved by partner resolutions and whether a subsequently incorporated private company is the same entity as that partnership. The factual finding was that the partnership was not dissolved. Legally, incorporation created a distinct corporate personality; transfers of buses to the company vested ownership in the company and similarity of business or promoter motive did not negate that separateness. Absent proof of fraud or exceptional grounds to pierce the corporate veil, the company cannot be compelled to render partnership accounts; any remedy against partners lies in an action for damages. Case-Laws Companies Law Wed, 10 Oct 1951 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97141