https://www.taxtmi.com/caselaws?id=38673 The court held that Section 187 of the Income-tax Act, 1961, does not apply when a partnership firm is dissolved, and a new firm continues the business with common partners. Such cases should be assessed under Section 188 for succession of one firm by another, requiring separate assessments for the dissolved and new firms. The majority judgment supported this interpretation, while dissenting judgments argued that a change in the constitution of the firm under Section 187 could warrant a single assessment even in cases of dissolution and continuation by a new firm. en-us Wed, 10 Aug 1977 00:00:00 +0530 Thu, 08 Apr 2010 12:19:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38673 The court held that Section 187 of the Income-tax Act, 1961, does not apply when a partnership firm is dissolved, and a new firm continues the business with common partners. Such cases should be assessed under Section 188 for succession of one firm by another, requiring separate assessments for the dissolved and new firms. The majority judgment supported this interpretation, while dissenting judgments argued that a change in the constitution of the firm under Section 187 could warrant a single assessment even in cases of dissolution and continuation by a new firm. Case-Laws Income Tax Wed, 10 Aug 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38673