ISSUE:
Whether a firm is a separate assessable entity for the purpose of the Indian Partnership Act or whether it is only a compendious term used to denote a group of partners?
Whether a firm can be assessed for sales tax after its dissolution?
RULE:
Courts while interpreting a fiscal statute cannot proceed to make good if there are any the deficiencies in the statute. In a case of doubt, it should interpret it in a manner favourable to the taxpayer.