https://www.taxtmi.com/caselaws?id=374553 The Court set aside the order under Section 188A of the Income Tax Act, 1961, regarding recovery of dues from a retired partner of a partnership firm. The Court found that the respondent erred in dismissing the petitioner's retirement claim without legal basis under the Partnership Act 1932. The Court highlighted that no formal resolution for retirement was required in a partnership at will. The Court directed a fresh consideration by the respondent, emphasizing the need to examine the genuineness of the retirement communication and assess the liability of the outgoing partner for third-party dues post-retirement. en-us Thu, 31 Jan 2019 00:00:00 +0530 Mon, 04 Feb 2019 07:05:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374553 The Court set aside the order under Section 188A of the Income Tax Act, 1961, regarding recovery of dues from a retired partner of a partnership firm. The Court found that the respondent erred in dismissing the petitioner's retirement claim without legal basis under the Partnership Act 1932. The Court highlighted that no formal resolution for retirement was required in a partnership at will. The Court directed a fresh consideration by the respondent, emphasizing the need to examine the genuineness of the retirement communication and assess the liability of the outgoing partner for third-party dues post-retirement. Case-Laws Income Tax Thu, 31 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374553