Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2015 Year 2015 This

Income received after dissolution of firm - the amount was ...

Income Tax

July 2, 2015

Income received after dissolution of firm - the amount was assessable in the hands of the assessee-firm in the year of receipt despite dissolution and discontinuance of its business by virtue of sub- s. (3A) of s. 176 r/w s. 189 - Nowhere it is the case of AO that the said sum belong to the period during which the assessee firm was in existence and carried out its business. - AT

View Source

 


 

You may also like:

  1. Accrual of interest income in the hands of dissolved partnership firm - section 189 keeps the firm alive for the purposes of assessment despite its dissolution. It...

  2. Dissolution of partnership - taxability of sum received by a partner - Any amount paid to a partner as his share on dissolution of the partnership firm cannot be...

  3. Mall upkeep and promotional fees received by the assessee - amount of maintenance charges received were business receipts assessable under the head 'business income'.... - HC

  4. The unclaimed amounts out of the Guarantee Reserve Account received in earlier years was assessable to tax as the deposit had changed its character into income - HC

  5. Taxability of interest income in the hands of Partner instead of Partnership firm - Allegation that assessee did not disclosed the receipt of Interest in his return of...

  6. Dissolution of Firm - once the dissolution of the firm is held to be not proved, the necessary corollary is that the property continues to be that of the Assessee firm....

  7. Sale of rubber tress - Agricultural income or not - The amount received by the assessee on sale of old rubber trees in the three years under consideration constitutes...

  8. The income received from the cancellation of the contract and the interest thereon received would all constitute revenue receipt in the hands of the assessee - HC

  9. Partnership firm - Nature of the Certain considerations received after the dissolution of the firm - The appellants as erstwhile partners are liable to pay capital gain...

  10. Sale of assets of partnership firm after dissolution – Individual erstwhile partners are liable to compute as Capital Gains under section 45.... - HC

 

Quick Updates:Latest Updates