https://www.taxtmi.com/caselaws?id=288728 The court held that the M.H. Entity was not an "unregistered firm" for the assessment year 1958-59 and did not address the issue of the Tribunal's direction to determine the assessee's share of loss. The Supreme Court ruled that losses of an unregistered firm can only be set off against the income of that firm, and the assessee had no standing as a partner in the joint venture. The Tribunal's decision was overturned, and the assessee was directed to pay half the costs to the Commissioner. en-us Sun, 08 Mar 1964 00:00:00 +0530 Thu, 25 Jun 2020 11:44:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288728 The court held that the M.H. Entity was not an "unregistered firm" for the assessment year 1958-59 and did not address the issue of the Tribunal's direction to determine the assessee's share of loss. The Supreme Court ruled that losses of an unregistered firm can only be set off against the income of that firm, and the assessee had no standing as a partner in the joint venture. The Tribunal's decision was overturned, and the assessee was directed to pay half the costs to the Commissioner. Case-Laws Income Tax Sun, 08 Mar 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288728