https://www.taxtmi.com/caselaws?id=27394 The High Court ruled in favor of the assessee, determining that two firms with common partners should be treated as separate assessable units for tax assessment purposes. The Court emphasized that despite sharing partners, the firms operated independently without interlacing, and each was registered under the Income Tax Act. The decision contradicted the Revenue's argument based on previous court decisions, holding that common partners could be considered distinct entities for tax assessment. The judgment favored maintaining the separate assessment of the firms, with the case outcome directing the Income-tax Appellate Tribunal to proceed accordingly. en-us Wed, 10 Apr 1985 00:00:00 +0530 Fri, 12 Feb 2010 15:11:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27394 The High Court ruled in favor of the assessee, determining that two firms with common partners should be treated as separate assessable units for tax assessment purposes. The Court emphasized that despite sharing partners, the firms operated independently without interlacing, and each was registered under the Income Tax Act. The decision contradicted the Revenue's argument based on previous court decisions, holding that common partners could be considered distinct entities for tax assessment. The judgment favored maintaining the separate assessment of the firms, with the case outcome directing the Income-tax Appellate Tribunal to proceed accordingly. Case-Laws Income Tax Wed, 10 Apr 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27394