https://www.taxtmi.com/caselaws?id=148318 Two partnership firms with identical partners are not separate persons for the purpose of a sale merely because their profit-sharing ratios differ. A firm has no legal existence distinct from the partners constituting it, and partnership property is held jointly during the subsistence of the partnership. As no partner has a specific separate share in a particular asset, dealings in that property between the same group of partners do not amount to a transfer from one person to another. The transaction was therefore not a sale and was not liable to sales tax. en-us Thu, 20 Apr 1967 00:00:00 +0530 Thu, 25 Apr 2013 15:51:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=148318 Two partnership firms with identical partners are not separate persons for the purpose of a sale merely because their profit-sharing ratios differ. A firm has no legal existence distinct from the partners constituting it, and partnership property is held jointly during the subsistence of the partnership. As no partner has a specific separate share in a particular asset, dealings in that property between the same group of partners do not amount to a transfer from one person to another. The transaction was therefore not a sale and was not liable to sales tax. Case-Laws VAT and Sales Tax Thu, 20 Apr 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=148318