PARTNERSHIP
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 August 2010
I had formed a partnership firm with my friend who expired last month. Can I now enter into partnership with the heirs of my deceased partner?
CA Sanat Pyne
(Expert)
15 August 2010
Where there were two partners, after the death of one, the firm will automatically come to an end. However, surviving partner may enter into partnership with the heirs of the deceased in which case that will be a new partnership firm.
15 August 2010
Yes . There is an unavoidable inference of automatic dissolution.
Citation :- CIT Vs. Seth Govindram Sugar Mills (1965) 57 ITR 510 (SC).
Citation :- CIT Vs. Seth Govindram Sugar Mills (1965) 57 ITR 510 (SC).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Intimation under section 245
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
