https://www.taxtmi.com/caselaws?id=60053 The court held that the income of Hanumanbax Jwala Prasad could not be clubbed with that of Kanoi Udyog for the assessment year 1981-82. Despite past treatment of both firms as a single taxable unit, changes in the partnership structure of Kanoi Udyog and the lack of interlacing funds between the firms led to the conclusion that they should not be considered a single unit for income tax purposes. The judgment emphasized the need for an identity of interest among partners for firms to be treated as identical units for taxation, ultimately allowing the appeal and directing the Income Tax Officer to adjust the assessment accordingly. en-us Mon, 08 Dec 1986 00:00:00 +0530 Mon, 03 Jan 2011 15:17:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60053 The court held that the income of Hanumanbax Jwala Prasad could not be clubbed with that of Kanoi Udyog for the assessment year 1981-82. Despite past treatment of both firms as a single taxable unit, changes in the partnership structure of Kanoi Udyog and the lack of interlacing funds between the firms led to the conclusion that they should not be considered a single unit for income tax purposes. The judgment emphasized the need for an identity of interest among partners for firms to be treated as identical units for taxation, ultimately allowing the appeal and directing the Income Tax Officer to adjust the assessment accordingly. Case-Laws Income Tax Mon, 08 Dec 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60053