https://www.taxtmi.com/caselaws?id=29593 Dissolution of an old firm by mutual consent, followed by constitution of a new partnership from a later date, is treated as succession of one firm by another under section 188 of the Income-tax Act, 1961, rather than a mere change in constitution under section 187(2). On that footing, separate assessments are justified because the later firm is a distinct successor entity, not the same firm continuing with altered partners. The Tribunal's view was supported by prior Full Bench and other decisions of the same court, and its order setting aside the Commissioner's revision under section 263(1) was upheld. en-us Thu, 29 Apr 1982 00:00:00 +0530 Mon, 15 Mar 2010 10:16:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29593 Dissolution of an old firm by mutual consent, followed by constitution of a new partnership from a later date, is treated as succession of one firm by another under section 188 of the Income-tax Act, 1961, rather than a mere change in constitution under section 187(2). On that footing, separate assessments are justified because the later firm is a distinct successor entity, not the same firm continuing with altered partners. The Tribunal's view was supported by prior Full Bench and other decisions of the same court, and its order setting aside the Commissioner's revision under section 263(1) was upheld. Case-Laws Income Tax Thu, 29 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29593