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

Income from a dissolved firm is taxable when received, per Section 176(3A) and Section 189 of the Income Tax Act.

July 2, 2015

Case Laws Income Tax AT

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

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

Income from a dissolved firm is taxable when received, per Section 176(3A) and Section 189 of the Income Tax Act.

July 2, 2015

Case Laws Income Tax AT

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