https://www.taxtmi.com/caselaws?id=27922 The High Court determined that there were two separate firms during the relevant periods due to the dissolution and reconstitution of the partnership, requiring separate assessments. Citing legal authorities, the court emphasized the distinction between dissolution and reconstitution, concluding that the situation constituted a succession to the old business. Relying on precedents, the court ruled in favor of the assessee, directing separate assessments and costs to be paid by the Commissioner. The judgment underscored the significance of discerning the parties' intentions and circumstances in assessing whether a firm's dissolution signifies succession or a mere change in its constitution. en-us Wed, 29 Feb 1984 00:00:00 +0530 Tue, 16 Feb 2010 18:02:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27922 The High Court determined that there were two separate firms during the relevant periods due to the dissolution and reconstitution of the partnership, requiring separate assessments. Citing legal authorities, the court emphasized the distinction between dissolution and reconstitution, concluding that the situation constituted a succession to the old business. Relying on precedents, the court ruled in favor of the assessee, directing separate assessments and costs to be paid by the Commissioner. The judgment underscored the significance of discerning the parties' intentions and circumstances in assessing whether a firm's dissolution signifies succession or a mere change in its constitution. Case-Laws Income Tax Wed, 29 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27922