https://www.taxtmi.com/caselaws?id=69239 The Tribunal held that in cases where an old firm is dissolved and a new firm is constituted with some partners continuing, the assessment should be made under section 188 of the Income Tax Act, 1961. The Tribunal rejected the argument for separate assessments under section 187, emphasizing that section 188 should apply to prevent tax avoidance. Therefore, the assessment for the assessment year 1973-74 was determined to be under section 188, in line with the Accountant Member's interpretation and relevant court decisions. en-us Mon, 18 Dec 1978 00:00:00 +0530 Tue, 05 Apr 2011 18:50:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69239 The Tribunal held that in cases where an old firm is dissolved and a new firm is constituted with some partners continuing, the assessment should be made under section 188 of the Income Tax Act, 1961. The Tribunal rejected the argument for separate assessments under section 187, emphasizing that section 188 should apply to prevent tax avoidance. Therefore, the assessment for the assessment year 1973-74 was determined to be under section 188, in line with the Accountant Member's interpretation and relevant court decisions. Case-Laws Income Tax Mon, 18 Dec 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69239