1996 (12) TMI 30 - HC - Income Tax

Summary

The High Court of Gujarat held that upon the death of a partner, a firm is dissolved immediately, requiring separate assessments for the periods before and after the death. The Income-tax Appellate Tribunal's decision was in favor of the assessee, in line with established legal principles. The Income-tax Officer's refusal to follow the High Court's decision was criticized by the Court.