2000 (1) TMI 31

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....P. VENKATARAMA REDDI J.---The Income-tax Appellate Tribunal, Hyderabad A-Bench, has referred the following questions for the opinion of this court : "1. Whether, on the facts and in the circumstances of the case and in the absence of a specific agreement in the instrument of partnership stating that the death of a partner would not dissolve the partnership the Appellate Tribunal was correct in ....

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....the deceased partner was admitted to the benefits of partnership and a fresh partnership deed was executed on November 8, 1980. The reconstituted firm closed its accounts for the period from October 21, 1980 to November 7, 1980. Thus two assessments were finalised, i.e., one for the period ending October 21, 1980, and another for the period ending on November 7, 1980. On appeal, the Cornmissioner ....

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....ion of the firm. The Tribunal also noted the indisputable proposition that the death of the partner has the effect of dissolving the firm unless there is a contract to the contrary and that such contract may be expressed, or implied, oral or in writing. The Tribunal observed at para. 11 as under: "We find sufficient force in the submissions made on behalf of the assessee before us. Death of a m....

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.... partnership. This was not done despite the death of one of the partners which supports the inference that the partners did not intend to dissolve the firm. We are unable to say that the conclusion reached by the Tribunal suffers from any erroneous legal approach nor can it be said to be perverse. True, the Tribunal did not specifically consider the effect of the partner's themselves filing two....