1987 (7) TMI 67 - HC - Income Tax

Summary

The High Court of Rajasthan ruled that in a case where a firm is dissolved due to the death of a partner, two separate assessments should be made for the periods before and after the dissolution. This decision was based on the amended section 187 of the Income-tax Act, which excludes cases of firm dissolution from being considered as a mere change in firm constitution. The Tribunal's decision to make two separate assessments was deemed justified, and the reference was answered in favor of the assessee.