2007 (4) TMI 136

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..... he “constitution of the firm”
JUDGMENT 1 We have heard learned counsel for the Income-tax Department and learned counsel for the assessee. 2 The following two questions have been referred : "(1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the provisions of section 80J(1) and 80J(3) will apply with respect of the deficiency of e .....

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..... oncern. 4 In the case in hand, there is not even transfer of ownership of the undertaking, but there is a mere change of the "constitution of the firm", which apparently has been accepted by the Department. 5 In the circumstances, our answer to the first question is that the Appellate Tribunal was justified in holding that the provisions of section 80J(1) and 80J(3) will apply with respect of th .....

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