https://www.taxtmi.com/caselaws?id=19710 The court upheld the Tribunal's decision that the case involved dissolution and formation of a new firm, not just a change in constitution. Separate assessments were ordered for the old firm's income until April 30, 1969, and the newly constituted firm's income from May 1 to December 31, 1969. The income of the dissolved firm was not to be clubbed with the new firm's income. Sections 187, 188, and 189 of the Income-tax Act were interpreted to support separate assessments in cases of firm succession. The court's decision favored the assessee, rejecting the Revenue's arguments. en-us Thu, 27 Oct 1994 00:00:00 +0530 Mon, 09 Nov 2009 11:29:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19710 The court upheld the Tribunal's decision that the case involved dissolution and formation of a new firm, not just a change in constitution. Separate assessments were ordered for the old firm's income until April 30, 1969, and the newly constituted firm's income from May 1 to December 31, 1969. The income of the dissolved firm was not to be clubbed with the new firm's income. Sections 187, 188, and 189 of the Income-tax Act were interpreted to support separate assessments in cases of firm succession. The court's decision favored the assessee, rejecting the Revenue's arguments. Case-Laws Income Tax Thu, 27 Oct 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19710