2002 (12) TMI 35

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....een served notice but none has appeared. 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 c....

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....time of making an assessment under section 143 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....