1978 (3) TMI 73

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.... reference relates to the assessment year 1968-69. The assessee is a registered partnership firm. One of the partners, Sri Ujagarmal, died on 14th March, 1967. On that date two other partners retired. The books of accounts were closed on 14th March, 1967. Profits up to that period were divided amongst the various partners. With effect from 15th March, 1967, under a fresh partnership deed the firm ....

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....y a change in the constitution of the firm on March 14, 1967, within the meaning of s. 187(2) of the I.T. Act, 1961, and, therefore, one single assessment covering both the periods was justified ? " This point came up for consideration before a Full Bench of this court in Dahi Laxmi Dal Factory v. ITO [1976] 103 ITR 517. The Full Bench held that s. 187 does not apply where a firm is dissolved e....