Change in constitution of firm - Section 187

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....requisition) it is found that a change has occurred in the constitution of a firm, the assessment shall be made on the firm as constituted at the time of making the assessment. Note:- There is a change in the constitution of the firm: * If one or more partners cease to be partners or one or more new partners are admitted, in such circumstances that one or more of the persons who were partners ....