<h1>High Court Rules Single Assessment Valid for Partnership u/s 187(1) of Income Tax Act Despite Partner Changes.</h1> A partnership firm experienced a change when two partners retired and two new partners joined, but continued its business without altering its name, assets, or liabilities. The firm filed two separate tax returns for different periods, claiming dissolution. The Assessing Officer, supported by the Commissioner of Income-tax (Appeals), treated it as a mere change in constitution, not dissolution, and made a single assessment. The Tribunal disagreed, allowing two assessments. However, the High Court ruled that under section 187(1) of the Income Tax Act, the situation was a change in constitution, not dissolution, and upheld a single assessment.