https://www.taxtmi.com/caselaws?id=67366 The Tribunal allowed the appeal, directing two separate assessments for the resident registered firm for the assessment year 1978-79, based on two accounting periods. It was determined that there was a succession of a new firm rather than a change in the firm's constitution, in line with the decision of the Hon'ble Madhya Pradesh High Court. Additionally, the Rs. 10,000 addition to the firm's income was deemed unjustified, and the trading results declared by the assessee were accepted, overturning the decisions of the lower authorities. en-us Tue, 15 Nov 1983 00:00:00 +0530 Thu, 10 Mar 2011 12:13:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67366 The Tribunal allowed the appeal, directing two separate assessments for the resident registered firm for the assessment year 1978-79, based on two accounting periods. It was determined that there was a succession of a new firm rather than a change in the firm's constitution, in line with the decision of the Hon'ble Madhya Pradesh High Court. Additionally, the Rs. 10,000 addition to the firm's income was deemed unjustified, and the trading results declared by the assessee were accepted, overturning the decisions of the lower authorities. Case-Laws Income Tax Tue, 15 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67366