https://www.taxtmi.com/caselaws?id=20698 The court ruled in favor of the assessee, holding that the original partnership firm ceased to exist upon changes in partners, rather than constituting two separate firms. The court emphasized the fundamental requirement of a partnership being an agreement between multiple persons and applied the principle that a firm dissolves if only one partner remains. The judgment clarified the interpretation of Section 187 of the Income-tax Act, 1961, in cases of changes in partnership structure, reaffirming the precedent that a firm automatically dissolves in such circumstances. en-us Sun, 22 Nov 1992 00:00:00 +0530 Mon, 16 Nov 2009 16:44:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20698 The court ruled in favor of the assessee, holding that the original partnership firm ceased to exist upon changes in partners, rather than constituting two separate firms. The court emphasized the fundamental requirement of a partnership being an agreement between multiple persons and applied the principle that a firm dissolves if only one partner remains. The judgment clarified the interpretation of Section 187 of the Income-tax Act, 1961, in cases of changes in partnership structure, reaffirming the precedent that a firm automatically dissolves in such circumstances. Case-Laws Income Tax Sun, 22 Nov 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20698