1987 (6) TMI 28

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....-The Income-tax Appellate Tribunal, Jabalpur Bench, Jabalpur, has referred the following question to this court for its opinion under section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act "). "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in holding that two separate assessments should be made on the asse....

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....ent that with the death of a partner, the firm would not be dissolved, the legal position is that in the absence of such contract, the death of a partner results in dissolution by operation of the Partnership Act. It seems, as a consequence of the new partnership coming into being, the assessee filed two returns, one for the period ending April 9, 1974, when Bhagchand died, and the other for the p....

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....ners are admitted, in such circumstance that one or more of the persons who were partners of the firm before the change continue as partner or partners after the change. As a result of the proviso aforesaid being added with retrospective effect from April 1, 1975, the provisions of section 187(2) of the Act, along with the said proviso, would be applicable to the facts of the instant case, the ass....