https://www.taxtmi.com/caselaws?id=21927 The High Court of Kerala determined that the assessment of a firm, United Coir Works, following a change in constitution should be made under section 188 of the Income-tax Act, not section 187. The court emphasized that the successor firm must demonstrate the identity and continuity of the business to qualify for assessment under section 188. Despite the Tribunal's initial assessment under section 187, the court found in favor of the assessee, ruling that the new firm had succeeded the old firm's business as a distinct legal entity. The court directed the case to the Income-tax Appellate Tribunal for further proceedings. en-us Thu, 11 Jul 1991 00:00:00 +0530 Fri, 04 Dec 2009 12:27:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21927 The High Court of Kerala determined that the assessment of a firm, United Coir Works, following a change in constitution should be made under section 188 of the Income-tax Act, not section 187. The court emphasized that the successor firm must demonstrate the identity and continuity of the business to qualify for assessment under section 188. Despite the Tribunal's initial assessment under section 187, the court found in favor of the assessee, ruling that the new firm had succeeded the old firm's business as a distinct legal entity. The court directed the case to the Income-tax Appellate Tribunal for further proceedings. Case-Laws Income Tax Thu, 11 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21927