https://www.taxtmi.com/caselaws?id=5137 For carry-forward and set-off of business loss, the decisive inquiry is whether the assessee continued the same business activity in the relevant assessment year, not whether the identical firm or partnership constitution survived. A partnership is only the mode through which the business is carried on, so dissolution of the earlier firm did not extinguish the partner's entitlement to the unabsorbed loss where the same line of business was continued through another partnership. The carried-forward loss was therefore available for set-off against later profits, and the claim was allowed. en-us Wed, 19 Feb 1969 00:00:00 +0530 Thu, 20 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5137 For carry-forward and set-off of business loss, the decisive inquiry is whether the assessee continued the same business activity in the relevant assessment year, not whether the identical firm or partnership constitution survived. A partnership is only the mode through which the business is carried on, so dissolution of the earlier firm did not extinguish the partner's entitlement to the unabsorbed loss where the same line of business was continued through another partnership. The carried-forward loss was therefore available for set-off against later profits, and the claim was allowed. Case-Laws Income Tax Wed, 19 Feb 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5137