https://www.taxtmi.com/caselaws?id=15957 The High Court of MADRAS ruled in favor of the assessee, holding that the reconstituted firm, with the same partners except for the deceased partner, was entitled to benefits under section 80HHC of the Income-tax Act. Despite the dissolution and reconstitution, the court emphasized the continuity of the export business and growth in exports as key factors. The court criticized the Tribunal for denying the benefits and stressed the significance of business continuity over legal formalities, ultimately deciding in favor of the assessee against the Revenue. en-us Tue, 14 Jul 1998 00:00:00 +0530 Mon, 31 Aug 2009 12:17:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15957 The High Court of MADRAS ruled in favor of the assessee, holding that the reconstituted firm, with the same partners except for the deceased partner, was entitled to benefits under section 80HHC of the Income-tax Act. Despite the dissolution and reconstitution, the court emphasized the continuity of the export business and growth in exports as key factors. The court criticized the Tribunal for denying the benefits and stressed the significance of business continuity over legal formalities, ultimately deciding in favor of the assessee against the Revenue. Case-Laws Income Tax Tue, 14 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15957