https://www.taxtmi.com/caselaws?id=25638 A gap between the retirement of three original partners and the formation of a new firm with a different constitution showed two distinct firms, not a mere change in constitution under section 187 of the Income-tax Act, 1961. On those facts, the first firm ceased on retirement of the partners and the second firm came into existence later, so the two periods had to be assessed separately. A single assessment for both periods was therefore not justified, and separate assessments were required. en-us Mon, 22 Sep 1986 00:00:00 +0530 Fri, 29 Jan 2010 18:42:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25638 A gap between the retirement of three original partners and the formation of a new firm with a different constitution showed two distinct firms, not a mere change in constitution under section 187 of the Income-tax Act, 1961. On those facts, the first firm ceased on retirement of the partners and the second firm came into existence later, so the two periods had to be assessed separately. A single assessment for both periods was therefore not justified, and separate assessments were required. Case-Laws Income Tax Mon, 22 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25638