STATE OF PUNJAB vs M/S. JULLUNDER VEGETABLES SYNDICATE

The Supreme Court held that under the East Punjab General Sales Tax Act, 1948, specifically Section 16 and Rule 40, a dissolved firm cannot be assessed for sales tax concerning its pre-dissolution turnover. The Court affirmed the High Court's decision that the firm, being a separate assessable entity under the Act, ceased to exist legally upon dissolution, and thus, there was no statutory provision allowing for such an assessment post-dissolution. The assessment order made after the firm's dissolution was deemed invalid.