DISSOLUTION OF FIRM - URGENT

no it is not required under the partnership Act

When you say succession of firm , you noramally mean entire assets and liabliies of the firm as a going concern has been taken over . IN this sense , a take over deed is sufficient and there is no need of dissolution of firm at that point of time . However , later on you may decide to dissolve ........ Other mode is dissolution of the firm and succession ...... IT depends

Thx Sampat Sir can u refer any judgement in respect of this querry ? thx and regards Ajay Jain

Kindly read judgement 2004(269)ITR322 ITS SAYING THERE IS AUTUMATIC DISSOLUTION OF THE FIRM AT THE TIME OF SUCCESSION

Thx Sampat & Suresh Sir
can u refer any judgement in respect of this querry ?
Kindly read judgement 2004(269)ITR322
ITS SAYING THERE IS AUTUMATIC DISSOLUTION OF THE FIRM AT THE TIME OF SUCCESSION

thx and regards
Ajay Jain

You see there are two different things .......sucession of business of the firm as a going concern and succession of the firm itself . If the firm itself is succeeded , the old firm does not remain .