https://www.taxtmi.com/caselaws?id=31090 The court dismissed the appeals against an order of the Income-tax Appellate Tribunal for the assessment years 1990-91 to 1994-95. The case involved whether assessment could be made on a company formed to take over a partnership's business when the partnership existed. The court held that the assessment on the company, formed after the partnership, was invalid as it was a separate legal entity. The court emphasized the joint liability of partners in cases of firm dissolution or business transfer, affirming the decision that the assessment should have been on the partnership or its partners, not the company. en-us Mon, 03 Mar 2008 00:00:00 +0530 Fri, 17 Oct 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31090 The court dismissed the appeals against an order of the Income-tax Appellate Tribunal for the assessment years 1990-91 to 1994-95. The case involved whether assessment could be made on a company formed to take over a partnership's business when the partnership existed. The court held that the assessment on the company, formed after the partnership, was invalid as it was a separate legal entity. The court emphasized the joint liability of partners in cases of firm dissolution or business transfer, affirming the decision that the assessment should have been on the partnership or its partners, not the company. Case-Laws Income Tax Mon, 03 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31090