https://www.taxtmi.com/caselaws?id=56937 The Appellate Tribunal ITAT ALLAHABAD-B ruled in favor of the assessee in a partnership firm dissolution case. The Tribunal accepted the claim that the firm had dissolved on 1st April, 1981, with assets and liabilities distributed among partners, followed by the formation of a new partnership. Emphasizing the legal distinction between firm dissolution and reconstitution, the Tribunal directed separate assessments for the two periods as claimed by the assessee, overturning the decisions of the lower authorities. en-us Fri, 10 Feb 1989 00:00:00 +0530 Tue, 07 Dec 2010 14:07:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56937 The Appellate Tribunal ITAT ALLAHABAD-B ruled in favor of the assessee in a partnership firm dissolution case. The Tribunal accepted the claim that the firm had dissolved on 1st April, 1981, with assets and liabilities distributed among partners, followed by the formation of a new partnership. Emphasizing the legal distinction between firm dissolution and reconstitution, the Tribunal directed separate assessments for the two periods as claimed by the assessee, overturning the decisions of the lower authorities. Case-Laws Income Tax Fri, 10 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56937