https://www.taxtmi.com/caselaws?id=11558 A firm was treated as reconstituted, not dissolved, where three partners continued, the two minors earlier admitted to partnership benefits were dropped, and five new partners were inducted. On those facts, section 187(2)(a) of the Income-tax Act, 1961 applied because some original partners remained while others ceased and new partners were admitted. The assessment had therefore to be made as one assessment on the firm as constituted at the time of assessment under section 187(1), rather than by splitting the year into separate assessments on the basis of dissolution. The questions were answered in favour of the Revenue and against the assessee. en-us Thu, 12 Dec 2002 00:00:00 +0530 Fri, 29 Jan 2010 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11558 A firm was treated as reconstituted, not dissolved, where three partners continued, the two minors earlier admitted to partnership benefits were dropped, and five new partners were inducted. On those facts, section 187(2)(a) of the Income-tax Act, 1961 applied because some original partners remained while others ceased and new partners were admitted. The assessment had therefore to be made as one assessment on the firm as constituted at the time of assessment under section 187(1), rather than by splitting the year into separate assessments on the basis of dissolution. The questions were answered in favour of the Revenue and against the assessee. Case-Laws Income Tax Thu, 12 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11558