https://www.taxtmi.com/caselaws?id=8443 Under the Income-tax Act, 1922 as amended in 1956, a registered firm and its partners are separately assessable entities. The assessment of partners on their share income does not preclude a subsequent assessment of the firm itself, because section 23(5) requires assessment of the registered firm as well as each partner. This scheme differs from the position for an unregistered firm, where the department may choose the assessable unit. Section 35(5) also contemplates that partners may be assessed before the firm and allows their assessments to be rectified to align with the firm's final assessment. en-us Wed, 13 Oct 1971 00:00:00 +0530 Wed, 15 Apr 2009 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8443 Under the Income-tax Act, 1922 as amended in 1956, a registered firm and its partners are separately assessable entities. The assessment of partners on their share income does not preclude a subsequent assessment of the firm itself, because section 23(5) requires assessment of the registered firm as well as each partner. This scheme differs from the position for an unregistered firm, where the department may choose the assessable unit. Section 35(5) also contemplates that partners may be assessed before the firm and allows their assessments to be rectified to align with the firm's final assessment. Case-Laws Income Tax Wed, 13 Oct 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8443