1991 (3) TMI 133 - HC - Income Tax

Summary

The High Court of Allahabad ruled in favor of the assessee, a partnership firm, in a case involving the dissolution of the firm due to the death of a partner. The court held that it was a case of succession, not reconstitution, as a new partnership deed was executed by the remaining partners. The Tribunal's decision was upheld, and the questions were answered in favor of the assessee.