1967 (1) TMI 26 - HC - Income Tax

Reassessment Of Firm - whether the share income from a firm could be assessed in the partner s hands prior to the completion of the firm s assessment - held, yes

Summary

The High Court of Allahabad ruled that a partner's share income from a firm can be assessed in the partner's hands before the firm's assessment is completed. The decision was based on previous court rulings. The court answered the question in favor of the tax department.