1994 (1) TMI 55

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....red by the Tribunal in this case are as follows : "(1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding and had valid materials to hold that the assessee-firm was factually dissolved on December 6, 1973, and, therefore, two separate assessments have to be made under section 188-one for the period from April 1, 1973, to December 6, 1973, and....

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....that the accounts were thereafter closed on December 6, 1973, and certain amounts were paid to the retiring partner. On these facts, the Appellate Tribunal drew an inference that by conduct, the partners have dissolved the firm even though by agreement only one partner had retired. On that finding of fact, the Tribunal applied section 188 and accepted the claim of the assessee for making two asses....

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....uct. But, as in this case, when there is a written agreement and the subsequent conduct of the parties does not contradict the written agreement, the finding of the Tribunal that there was in fact a dissolution is vitiated, because, there is nothing to show that there was a determination of the rights and liabilities of the continuing partners. On the other hand, there are several clauses in the a....