https://www.taxtmi.com/caselaws?id=281313 The High Court upheld the validity of an assessment on a dissolved firm for the assessment year 1953-54, despite the firm's dissolution. The court clarified that assessment proceedings can continue against a dissolved firm under section 44 of the Income-tax Act, imposing joint and several liability on partners. Referring to Supreme Court precedents, the court dismissed the argument against assessing a dissolved firm, emphasizing the applicability of section 44 in cases of business discontinuance. The judgment affirmed the assessment order's validity, aligning with established legal principles and leaving parties to bear their own costs. en-us Wed, 15 Jul 1964 00:00:00 +0530 Thu, 13 Jun 2019 14:18:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281313 The High Court upheld the validity of an assessment on a dissolved firm for the assessment year 1953-54, despite the firm's dissolution. The court clarified that assessment proceedings can continue against a dissolved firm under section 44 of the Income-tax Act, imposing joint and several liability on partners. Referring to Supreme Court precedents, the court dismissed the argument against assessing a dissolved firm, emphasizing the applicability of section 44 in cases of business discontinuance. The judgment affirmed the assessment order's validity, aligning with established legal principles and leaving parties to bear their own costs. Case-Laws Income Tax Wed, 15 Jul 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281313