2002 (12) TMI 35

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....red. This is an income-tax reference under section 256(2) of the Income-tax Act, 1961 ("the Act"), in pursuance of the direction of the High Court. The following questions have been referred to us for our opinion: "1. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the incomes of the two periods could not be clubbed? 2. Whether, on the....

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.... or section 144, 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. (2) For the purposes of this section, there is a change in the constitution of the firm(a) if one or more of the partners cease to be partners or one or more new partners are admitted, in such circumstances that one or....