https://www.taxtmi.com/caselaws?id=60255 The Appellate Tribunal ITAT CALCUTTA-B held that despite a new partnership deed, there should have been a single assessment for the relevant accounting year. The Tribunal considered conflicting views from different High Courts but relied on the legislative intent behind Section 187(2) of the Income-tax Act, emphasizing that even if a firm is dissolved and reconstituted, it should be assessed as a new entity with higher tax implications. The appeal was dismissed, affirming the ITO's single assessment and highlighting the importance of following the statutory framework for partnership firm assessments under the Income-tax Act. en-us Thu, 19 Apr 1984 00:00:00 +0530 Tue, 04 Jan 2011 14:15:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60255 The Appellate Tribunal ITAT CALCUTTA-B held that despite a new partnership deed, there should have been a single assessment for the relevant accounting year. The Tribunal considered conflicting views from different High Courts but relied on the legislative intent behind Section 187(2) of the Income-tax Act, emphasizing that even if a firm is dissolved and reconstituted, it should be assessed as a new entity with higher tax implications. The appeal was dismissed, affirming the ITO's single assessment and highlighting the importance of following the statutory framework for partnership firm assessments under the Income-tax Act. Case-Laws Income Tax Thu, 19 Apr 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60255