https://www.taxtmi.com/caselaws?id=38532 The High Court ruled in favor of the assessee, holding that the firm's total income for the year of change in constitution should have been assessed under section 188 read with section 170, not section 187. The Court emphasized the distinction between cases of succession and changes in the firm's constitution, stating that the death of a partner led to the dissolution of the first firm and the creation of a new entity, warranting separate assessments. The judgment clarified the correct application of Income-tax Act provisions in cases of partnership firm reconstitution. en-us Thu, 25 Aug 1977 00:00:00 +0530 Wed, 07 Apr 2010 11:09:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38532 The High Court ruled in favor of the assessee, holding that the firm's total income for the year of change in constitution should have been assessed under section 188 read with section 170, not section 187. The Court emphasized the distinction between cases of succession and changes in the firm's constitution, stating that the death of a partner led to the dissolution of the first firm and the creation of a new entity, warranting separate assessments. The judgment clarified the correct application of Income-tax Act provisions in cases of partnership firm reconstitution. Case-Laws Income Tax Thu, 25 Aug 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38532