https://www.taxtmi.com/caselaws?id=69697 A valid dissolution of a partnership firm, supported by a dissolution deed and surrounding acts recognising the end of the old firm, prevents post-dissolution business income from being aggregated in the old firm's hands merely because some partners continue in the new firm. Section 43 of the Partnership Act does not make notice mandatory in every dissolution by agreement, and section 187(2) of the Income-tax Act cannot override partnership law where dissolution is established. In such a case, the business is treated as succession by one firm to another under section 188, requiring separate assessments. en-us Tue, 04 Nov 1980 00:00:00 +0530 Mon, 11 Apr 2011 16:21:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69697 A valid dissolution of a partnership firm, supported by a dissolution deed and surrounding acts recognising the end of the old firm, prevents post-dissolution business income from being aggregated in the old firm's hands merely because some partners continue in the new firm. Section 43 of the Partnership Act does not make notice mandatory in every dissolution by agreement, and section 187(2) of the Income-tax Act cannot override partnership law where dissolution is established. In such a case, the business is treated as succession by one firm to another under section 188, requiring separate assessments. Case-Laws Income Tax Tue, 04 Nov 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69697