1988 (5) TMI 7 - HC - Income Tax

Summary

The High Court of Rajasthan ruled that on the death of a partner, there was a dissolution of the firm, leading to two separate assessments for different periods. The Tribunal's decision was upheld, and the case was governed by the proviso in section 187(2) of the Income-tax Act, 1961. The reference was answered in favor of the assessee. (Case citation: 1988 (5) TMI 7 - RAJASTHAN High Court)