https://www.taxtmi.com/caselaws?id=25180 The High Court of Rajasthan determined the status of a petitioner firm as an association of persons rather than an unregistered firm. The firm had been declared insolvent, and a receiver was appointed to continue its business. Despite arguments from the Department that the firm continued for assessment purposes, the court held that the income belonged to former partners as an association of persons. The court emphasized that if no genuine firm exists, assesses must be treated as an association of persons. Consequently, the Tribunal's decision to consider the firm as an unregistered firm was deemed unjustified, ruling in favor of the assessee. en-us Fri, 04 Sep 1987 00:00:00 +0530 Mon, 25 Jan 2010 18:15:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25180 The High Court of Rajasthan determined the status of a petitioner firm as an association of persons rather than an unregistered firm. The firm had been declared insolvent, and a receiver was appointed to continue its business. Despite arguments from the Department that the firm continued for assessment purposes, the court held that the income belonged to former partners as an association of persons. The court emphasized that if no genuine firm exists, assesses must be treated as an association of persons. Consequently, the Tribunal's decision to consider the firm as an unregistered firm was deemed unjustified, ruling in favor of the assessee. Case-Laws Income Tax Fri, 04 Sep 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25180