https://www.taxtmi.com/caselaws?id=5866 A partnership deed fixing a terminal date, followed by an express dissolution by mutual consent and a transfer of assets, liabilities and business to continuing partners, supported a finding of dissolution followed by succession rather than a mere change in constitution. The subsequent deed confirmed that the business was carried on by the continuing partners to the exclusion of the retiring partner. On the documents and surrounding circumstances, the new firm was treated as succeeding to the old business, so relief under section 25(4) of the Indian Income-tax Act, 1922, was available. en-us Tue, 13 Apr 1982 00:00:00 +0530 Fri, 28 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5866 A partnership deed fixing a terminal date, followed by an express dissolution by mutual consent and a transfer of assets, liabilities and business to continuing partners, supported a finding of dissolution followed by succession rather than a mere change in constitution. The subsequent deed confirmed that the business was carried on by the continuing partners to the exclusion of the retiring partner. On the documents and surrounding circumstances, the new firm was treated as succeeding to the old business, so relief under section 25(4) of the Indian Income-tax Act, 1922, was available. Case-Laws Income Tax Tue, 13 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5866