1988 (4) TMI 2 - HC - Income Tax

Summary

The High Court of Rajasthan ruled in Income-tax Reference No. 75 of 1983 that the provisions of section 187(2) were not applicable in a case involving a partnership firm's change in constitution. The Court held that the case was governed by the amended section 187 and deemed it a succession under section 188 of the Income-tax Act. The Tribunal's decision was upheld, and the reference was answered in favor of the assessee.