https://www.taxtmi.com/caselaws?id=24009 The court ruled in favor of the assessee, determining that the case constituted a succession under section 188 of the Income-tax Act rather than a change in constitution under section 187. It was held that two separate assessments were necessary for the distinct periods before and after the formation of the new firm following the dissolution of the original partnership. The judgment emphasized the importance of the dissolution of the earlier firm in distinguishing between reconstitution and succession, aligning with the understanding that such dissolution signifies succession, warranting separate assessments based on the returns filed by the assessee. en-us Tue, 01 Aug 1989 00:00:00 +0530 Fri, 15 Jan 2010 17:41:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24009 The court ruled in favor of the assessee, determining that the case constituted a succession under section 188 of the Income-tax Act rather than a change in constitution under section 187. It was held that two separate assessments were necessary for the distinct periods before and after the formation of the new firm following the dissolution of the original partnership. The judgment emphasized the importance of the dissolution of the earlier firm in distinguishing between reconstitution and succession, aligning with the understanding that such dissolution signifies succession, warranting separate assessments based on the returns filed by the assessee. Case-Laws Income Tax Tue, 01 Aug 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24009