CARDOZA L P Vs. AGRICULTURAL ITO

JUDGEMENT

(1.) THE question involved in these petitions is as to whether a dissolved firm can be assessed to agricultural income-tax after the date of its dissolution in respect of the dividends received from the Coffee Board for the supply of coffee seeds made by the firm prior to its dissolution.

(2.) THE facts of the cases may briefly be referred to before considering the above question.

(3.) IN these cases it is not disputed that at the time when the assessment orders were passed or the notices to file the returns were issued, the firms had ceased to exist. The question that requires consideration is whether s. 26(4) as amended by Act 10 of 1987 or s. 27 empowers the authority to pass an order of assessment against the dissolved firm in respect of certain income derived after the date of dissolution, though that income is relatable to the supply made by the firm when it was in existence.