1982 (2) TMI 128

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....ellant is a partnership concern carrying on the business in the name and style of M/S. Prabhu Dayal Jyoti Prasad. The firm was constituted under the deed of partnership dt.13th Sept, 1976consisting of two partners, namely, Shri Bhagwan Gupta and Smt. Anguri Devi. The original firm before the constitution of the present one was under the partnership deed dt.14th Sept, 1969with two partners S/Shri B....

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....tomatically comes to an end as only one partner was left and one man cannot constitute a firm. The facts of the case are all in force with those of the case of M/S Dahlia Laxmi Dal Factory vs. ITO, Sitapur and Ors. (1976) 103 ITR 517 (All). In these circumstances of the case, I am inclined to accept the appellant's contention and hold that even without having recourse to the provisions of s. 42(C)....

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....1977) 110 ITR 170 (P&H), Nand Lal Sohan Lal vs. CIT, Patiala and (1977) 108 ITR 466 (AP) in the case of Addl. CIT vs. Vishaka Flour Mills decided by the Hon'ble High Court of Andhra Pradesh. On the other hand, Shri R.K. Gupta, the ld. Counsel of the assessee supported the order of the AAC and the case relied upon by him. Since the original firm consisted of two partners, there was a dissolution in....