In which of the following cases it was held by the Supreme Court that partnership firm is not a…
In "Duli Chand Laxmi Narayan v. Commissioner of Income Tax" the Supreme Court held that a firm is not a legal entity or person distinct from its partners but only a…
Choose your answer
In which of the following cases it was held by the Supreme Court that partnership firm is not a separate legal entity apart from the partners?
Answer and explanation
Correct answer A
In "Duli Chand Laxmi Narayan v. Commissioner of Income Tax" the Supreme Court held that a firm is not a legal entity or person distinct from its partners but only a compendious name for them.
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