https://www.taxtmi.com/caselaws?id=70164 The Tribunal held that there should be two separate assessments for the period from 1st April 1974 to 31st March 1975, rejecting the Commissioner of Income Tax's argument for a single assessment due to a change in the firm's constitution. The Tribunal found that the old firm and the new firm formed were distinct entities with different partner compositions, based on the deed of dissolution and business transfer. Relying on legal precedent, the Tribunal overturned the CIT's decision and reinstated the Income Tax Officer's assessment accepting the assessee's claim for separate assessments. en-us Thu, 25 Jan 1979 00:00:00 +0530 Thu, 14 Apr 2011 16:48:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70164 The Tribunal held that there should be two separate assessments for the period from 1st April 1974 to 31st March 1975, rejecting the Commissioner of Income Tax's argument for a single assessment due to a change in the firm's constitution. The Tribunal found that the old firm and the new firm formed were distinct entities with different partner compositions, based on the deed of dissolution and business transfer. Relying on legal precedent, the Tribunal overturned the CIT's decision and reinstated the Income Tax Officer's assessment accepting the assessee's claim for separate assessments. Case-Laws Income Tax Thu, 25 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70164