https://www.taxtmi.com/caselaws?id=63102 Where three partners retired and new partners were inducted, the earlier firm came to an end because the remaining partner alone could not constitute the firm. The facts therefore showed succession of one firm by another, not a mere change in constitution under section 187(2) of the Income-tax Act, 1961. As the two accounting periods were distinct, the income for those periods could not be clubbed and separate assessments were required. en-us Sat, 31 Jan 1981 00:00:00 +0530 Thu, 27 Jan 2011 18:03:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63102 Where three partners retired and new partners were inducted, the earlier firm came to an end because the remaining partner alone could not constitute the firm. The facts therefore showed succession of one firm by another, not a mere change in constitution under section 187(2) of the Income-tax Act, 1961. As the two accounting periods were distinct, the income for those periods could not be clubbed and separate assessments were required. Case-Laws Income Tax Sat, 31 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63102