COMMISSIONER OF INCOME TAX Vs. ADARSH INDUSTRIES

JUDGEMENT

(1.) THIS is a reference under S. 256(1) of the IT Act in which the following question of law has been referred for our opinion :

(2.) ONE of the partners of the firm Sri Ramesh Chandra Garg died on 27th Feb., 1980. There was nothing in the partnership deed to the effect that the partnership will continue even after the death of a partner. Hence, in view of S. 42 of the Partnership Act the firm stood dissolved and there have to be two assessments vide CIT vs. Empire Estate (1996) 132 CTR (SC) 221 : (l996) 218 ITR 355 (SC).