Comparison of section 327 "Change in constitution of a firm." between the Income-Tax Act, 2025 (as passed) and the Income-Tax Bill, 2025 (as originally introduced)
11 September, 2025
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Change in constitution of a firm: assessment attaches to the firm as constituted at the time of assessment. Where, at the time of making an assessment under sections 270 or 271, a change in the constitution of a firm is found, the assessment shall be made on the ... Summary
Change in constitution of a firm: assessment attaches to the firm as constituted at the time of assessment.
Where, at the time of making an assessment under sections 270 or 271, a change in the constitution of a firm is found, the assessment shall be made on the firm as constituted at that time; "change in constitution" includes partners ceasing to be partners, admission of new partners provided at least one pre existing partner continues, and changes in partners' shares, with a proviso excluding dissolution on account of a partner's death from the partner cessation limb.
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