https://www.taxtmi.com/caselaws?id=57678 The Tribunal upheld the decision requiring two separate assessments for two firms due to the dissolution of the old firm and formation of a new one. The new firm was deemed genuine and entitled to registration despite drafting errors and overlapping existence with the old firm. In a separate issue, cash credits in the firm's books were disputed, with the Tribunal ultimately finding the explanations unsatisfactory and adding the amounts to the firm's hands per section 68. The Departmental appeal in this regard was partly allowed, setting aside the AAC's order and restoring that of the ITO. en-us Mon, 28 Aug 1978 00:00:00 +0530 Sat, 11 Dec 2010 14:56:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57678 The Tribunal upheld the decision requiring two separate assessments for two firms due to the dissolution of the old firm and formation of a new one. The new firm was deemed genuine and entitled to registration despite drafting errors and overlapping existence with the old firm. In a separate issue, cash credits in the firm's books were disputed, with the Tribunal ultimately finding the explanations unsatisfactory and adding the amounts to the firm's hands per section 68. The Departmental appeal in this regard was partly allowed, setting aside the AAC's order and restoring that of the ITO. Case-Laws Income Tax Mon, 28 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57678