https://www.taxtmi.com/caselaws?id=23870 The court held that despite the dissolution of the assessee-firm in 1972, it continued to exist for the purpose of distributing assets among partners. The refund received in 1974 was deemed taxable income under sections 41(1) and 189 of the Income-tax Act, 1961. The court relied on precedents establishing that a dissolved firm can be assessed for income post-dissolution. The decision favored the Revenue, concluding that the firm was liable for assessment, and the judgment was to be forwarded to the Income-tax Appellate Tribunal, Cochin Bench. en-us Fri, 25 Aug 1989 00:00:00 +0530 Thu, 14 Jan 2010 18:54:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23870 The court held that despite the dissolution of the assessee-firm in 1972, it continued to exist for the purpose of distributing assets among partners. The refund received in 1974 was deemed taxable income under sections 41(1) and 189 of the Income-tax Act, 1961. The court relied on precedents establishing that a dissolved firm can be assessed for income post-dissolution. The decision favored the Revenue, concluding that the firm was liable for assessment, and the judgment was to be forwarded to the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Fri, 25 Aug 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23870