https://www.taxtmi.com/caselaws?id=26021 The court upheld the Tribunal's decision that the partnership firm was dissolved on December 31, 1976, and a new partnership was formed on January 1, 1977. Consequently, two separate assessments were deemed necessary under Section 188 of the Income-tax Act. The court rejected the argument that only dissolutions due to death were recognized for separate assessments, emphasizing that other statutory forms of dissolution under the Partnership Act should be considered. The outcome favored the assessee, requiring separate assessments for the distinct periods, with costs awarded to the assessee. en-us Tue, 26 Feb 1985 00:00:00 +0530 Tue, 02 Feb 2010 13:02:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26021 The court upheld the Tribunal's decision that the partnership firm was dissolved on December 31, 1976, and a new partnership was formed on January 1, 1977. Consequently, two separate assessments were deemed necessary under Section 188 of the Income-tax Act. The court rejected the argument that only dissolutions due to death were recognized for separate assessments, emphasizing that other statutory forms of dissolution under the Partnership Act should be considered. The outcome favored the assessee, requiring separate assessments for the distinct periods, with costs awarded to the assessee. Case-Laws Income Tax Tue, 26 Feb 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26021