https://www.taxtmi.com/caselaws?id=18665 The High Court held that in cases of firm reconstitution, only one assessment should be conducted for the firm as it stood at the end of the year, rejecting the need for separate assessments for different periods. The court ruled against the assessee's claim for two separate assessments, favoring the Revenue. The High Court's decision clarified the law in this regard, emphasizing the binding nature of the Full Bench decision in Vishwanath Seth v. CIT. The court directed the records to be returned to the Appellate Tribunal for further proceedings in accordance with its ruling. en-us Thu, 23 Nov 1995 00:00:00 +0530 Sat, 31 Oct 2009 12:21:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18665 The High Court held that in cases of firm reconstitution, only one assessment should be conducted for the firm as it stood at the end of the year, rejecting the need for separate assessments for different periods. The court ruled against the assessee's claim for two separate assessments, favoring the Revenue. The High Court's decision clarified the law in this regard, emphasizing the binding nature of the Full Bench decision in Vishwanath Seth v. CIT. The court directed the records to be returned to the Appellate Tribunal for further proceedings in accordance with its ruling. Case-Laws Income Tax Thu, 23 Nov 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18665