https://www.taxtmi.com/caselaws?id=17445 Agricultural income of a reconstituted firm had to be apportioned by reference to the partners entitled to that income during the relevant previous year, not merely by the partners in place at assessment. The Court held that no partner could be taxed on income, profits or gains not received by him during that year. A single assessment could still be made on the reconstituted firm, but the pre-reconstitution income had to be allocated to the erstwhile partners and the post-reconstitution income to the partners of the reconstituted firm. The issue was answered against the Revenue and in favour of the assessee. en-us Mon, 29 Sep 1997 00:00:00 +0530 Tue, 22 Sep 2009 13:56:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17445 Agricultural income of a reconstituted firm had to be apportioned by reference to the partners entitled to that income during the relevant previous year, not merely by the partners in place at assessment. The Court held that no partner could be taxed on income, profits or gains not received by him during that year. A single assessment could still be made on the reconstituted firm, but the pre-reconstitution income had to be allocated to the erstwhile partners and the post-reconstitution income to the partners of the reconstituted firm. The issue was answered against the Revenue and in favour of the assessee. Case-Laws Income Tax Mon, 29 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17445