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2000 (2) TMI 42 - HC - Income Tax

The High Court of Bombay ruled that undisclosed income of a partner cannot be treated as undisclosed income of the firm for Chapter XIV-B of the Income-tax Act, 1961. A registered firm is a taxable unit, and block assessment on the firm must follow the procedure under section 158BD. The appeal was dismissed as no substantial question of law arose.

 

 

 

 

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