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Partnership firm can be formed by partners represented by their respective firms
Case Law Details
- Case Name
- D.M Builders Vs ACIT (ITAT Raipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Raipur
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D.M Builders Vs ACIT (ITAT Raipur)
ITAT Raipur held that there is no bar on an individual to join a partnership firm in his representative capacity of a firm being represented by him. In short, partnership firm can be formed by partners represented by their respective firms.
Facts- The case of the assessee was selected for scrutiny assessment u/s.143(2) of the Act. During the course of the assessment proceedings, it was observed by the A.O that the assessee firm was constituted vide a partnership deed dated 05.03.2009 comprising of four partners who represented their respectiv...
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