https://www.taxtmi.com/caselaws?id=276322 The Kerala High Court ruled in favor of the assessee, allowing the partner in a dissolved registered firm to carry forward his share of losses from the firm to set off against profits in his sole proprietorship business for the assessment year 1957-58. The court emphasized that individual partners can carry forward and set off their share of losses in subsequent years, maintaining the identity necessary for carrying forward losses. The department was directed to bear the costs of the assessee, and the judgment was forwarded to the Appellate Tribunal as required by the Act. en-us Mon, 08 Jan 1962 00:00:00 +0530 Tue, 06 Nov 2018 11:12:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276322 The Kerala High Court ruled in favor of the assessee, allowing the partner in a dissolved registered firm to carry forward his share of losses from the firm to set off against profits in his sole proprietorship business for the assessment year 1957-58. The court emphasized that individual partners can carry forward and set off their share of losses in subsequent years, maintaining the identity necessary for carrying forward losses. The department was directed to bear the costs of the assessee, and the judgment was forwarded to the Appellate Tribunal as required by the Act. Case-Laws Income Tax Mon, 08 Jan 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276322