https://www.taxtmi.com/caselaws?id=27567 The court ruled in favor of the assessee, affirming the need for two separate assessments for the dissolved firm and the new firm constituted after dissolution. The court held that the new firm should be treated as a separate entity, not a reconstitution of the old firm, emphasizing that once a firm is dissolved, it ceases to exist. Despite conflicting decisions from various High Courts, the court maintained its stance on the matter, granting permission to the Revenue to appeal to the Supreme Court due to the pending reference on the issue. en-us Wed, 09 Nov 1983 00:00:00 +0530 Sat, 13 Feb 2010 16:03:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27567 The court ruled in favor of the assessee, affirming the need for two separate assessments for the dissolved firm and the new firm constituted after dissolution. The court held that the new firm should be treated as a separate entity, not a reconstitution of the old firm, emphasizing that once a firm is dissolved, it ceases to exist. Despite conflicting decisions from various High Courts, the court maintained its stance on the matter, granting permission to the Revenue to appeal to the Supreme Court due to the pending reference on the issue. Case-Laws Income Tax Wed, 09 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27567