https://www.taxtmi.com/caselaws?id=63143 A firm's dissolution followed by transfer of assets and liabilities to the continuing partners, and a later fresh partnership deed, was treated as succession of the business rather than a mere change in constitution. Applying the partnership-law effect of dissolution, the tax position was that the pre-dissolution and post-dissolution periods required separate assessments instead of a single assessment for the whole year. The commentary thus confirms that where a dissolved firm is taken over by a newly constituted partnership, the assessment framework follows succession principles, not internal reconstitution. en-us Fri, 04 Apr 1986 00:00:00 +0530 Fri, 28 Jan 2011 10:40:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63143 A firm's dissolution followed by transfer of assets and liabilities to the continuing partners, and a later fresh partnership deed, was treated as succession of the business rather than a mere change in constitution. Applying the partnership-law effect of dissolution, the tax position was that the pre-dissolution and post-dissolution periods required separate assessments instead of a single assessment for the whole year. The commentary thus confirms that where a dissolved firm is taken over by a newly constituted partnership, the assessment framework follows succession principles, not internal reconstitution. Case-Laws Income Tax Fri, 04 Apr 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63143