under the PAN of partnership firm and therefore, it was wrongly credited
in the account of the partnership firm instead of proprietorship concern.
The Assessing ... Destiny Consultants Vs ITO
Registrar of partnership firm about the dissolution of the partnership firm.
He has relied upon the orders of the authorities below
registered at bank was of Partnership firm i.e.
AAEFB5256B. After conversion of partnership firm into proprietorship
firm ... Bhagwan Das & Sons which was a
partnership firm. However the said Partnership Firm was dissolved wef 01.04.2012.
iii) That after 01.04.2012 said account
firm gave a notice for the dissolution of the firm on 18th December, 1987 and all the partners agreed that the firm be dissolved ... firm would be done along with the distribution of the assets of the firm in the partnership agreement between the partners. A firm is bound
surviving partners showed that the old partnership was dissolved and new partnership was born as per the partnership deed and according to the ratio ... firm is dissolved on the death of any partner' clearly shows that it is to be dissolved if so dissolved by the original partnership
firm is
concerned, it has always been described as 'the dissolved
partnership firm'. Thus, the assets which were sold ultimately
were ... dissolved partnership firm, thou gh as a going concern.
[Para 22]
At this stage, one more factual aspect needs to be clarified.
During the pendency
Firm dissolved or business discontinued.
(1)Where any business or profession carried on by a firm has been
discontinued or where a firm is dissolved ... dissolved firm is also fasten to the ex-
partner of the firm jointly and severally and thereby the partner of
dissolved firm is an aggrieved
There was a partnership firm carrying on business in cloth under the firm name of M/s. Babulal Chandak. This firm had come into existence ... have no option to treat the firm as continuing. Under the Indian Partnership Act, 1932 , the firm gets dissolved and the Income-tax Officer
partnership firm
engaged in manufacturing and sale of bread and biscuit.
-: 2: -
During the year under consideration, there was a dissolution
of the partnership firm ... assessee firm during the year under consideration. As per
specific clause 3 of Dissolution Deed dated 31st March,2005,
the partnership firm was dissolved
further stated that this
partnership firm under the trade name of "Nice Marbles" (partnership firm) had
already been dissolved in the year ... against the PAN
of the partnership firm and the said partnership firm has been stated to have been
dissolved and for all practical purposes
allowed full depreciation in the hands of the partnership firm only, while denying any depreciation allowance in the assessee-company's hand ... hands of the successor-company (though in a different capacity): the partnership firm dissolving w.e.f the date of conversion, so that it does
