Supreme Court · 1979 INSC 187 · Decided 19 September 1979
Malabar Fisheries CO., Calicut v. Commissioner of Income Tax, Kerala
- Court
- Supreme Court of India
- Citation
- 1979 INSC 187 · [1980] 1 S.C.R. 696
- Case number
- CIVIL APPEAL No. 196/1973
- Decided
- 19 September 1979
- Bench
- P.N. BHAGWATI, V.D. TULZAPURKAR, R.S. PATHAK (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 34(3)(b), 2(4i)
Headnote
Firnz dissolred-Assets distributed among partner~Distribution-lf amounts to transfer of assets within the mecining of expression "otlierlvise transferred" in S. 34(3) (b) Income Tax Act 1961. Words and PhraSes-'Trarufer'-Meaning of-Distribution of assets c1nong partners-U7hether amounts S. 2(4i). The appellant, a dissolved firm as originally constituted on April 1, 1959, consisted of four partners: and carried on different business in different names and styles. The firm was dissolved on March 31, 1963 and under the deed of dissolution executed by and between the partners, the
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