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TMI Blog2000 (1) TMI 31X X X X Extracts X X X X X X X X Extracts X X X X ..... ing questions for the opinion of this court : "1. Whether, on the facts and in the circumstances of the case and in the absence of a specific agreement in the instrument of partnership stating that the death of a partner would not dissolve the partnership the Appellate Tribunal was correct in law in inferring that an implied contract existed amongst the partners that the demise of any one of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on November 8, 1980. The reconstituted firm closed its accounts for the period from October 21, 1980 to November 7, 1980. Thus two assessments were finalised, i.e., one for the period ending October 21, 1980, and another for the period ending on November 7, 1980. On appeal, the Cornmissioner of Income-tax (Appeals) deleted the addition of Rs. 62,508 to the closing stock inasmuch as he came to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... effect of dissolving the firm unless there is a contract to the contrary and that such contract may be expressed, or implied, oral or in writing. The Tribunal observed at para. 11 as under: "We find sufficient force in the submissions made on behalf of the assessee before us. Death of a man uncontrollable as it is, did not cause any ripples in the present partnership. Everything went on quietly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e partners did not intend to dissolve the firm. We are unable to say that the conclusion reached by the Tribunal suffers from any erroneous legal approach nor can it be said to be perverse. True, the Tribunal did not specifically consider the effect of the partner's themselves filing two returns for the same year on the footing that there was dissolution. It may be one of the relevant factors wh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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