https://www.taxtmi.com/caselaws?id=61818 The Appellate Tribunal ruled that separate assessments should have been conducted for a partnership firm following a change in constitution, emphasizing the distinction between a mere change in constitution and a succession of one firm by another. The Tribunal highlighted the significance of the dissolution deed in determining the dissolution of the old firm, concluding that two separate assessments were required for the distinct periods before and after the change. Specific issues related to depreciation, interest, expenditure disallowance, and tax treatment were addressed, with the Tribunal directing the CIT (Appeals) to consider the depreciation matter in accordance with the law, resulting in a partial allowance of the appeals. en-us Thu, 10 Oct 1991 00:00:00 +0530 Sat, 15 Jan 2011 12:00:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61818 The Appellate Tribunal ruled that separate assessments should have been conducted for a partnership firm following a change in constitution, emphasizing the distinction between a mere change in constitution and a succession of one firm by another. The Tribunal highlighted the significance of the dissolution deed in determining the dissolution of the old firm, concluding that two separate assessments were required for the distinct periods before and after the change. Specific issues related to depreciation, interest, expenditure disallowance, and tax treatment were addressed, with the Tribunal directing the CIT (Appeals) to consider the depreciation matter in accordance with the law, resulting in a partial allowance of the appeals. Case-Laws Income Tax Thu, 10 Oct 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61818