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TMI Blog1997 (7) TMI 668X X X X Extracts X X X X X X X X Extracts X X X X ..... e circumstances of the case, the Tribunal was correct in law in holding that the incomes of the two periods could not be clubbed and that two separate assessments should be framed on the basis of the two returns of income filed by the assessee? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in taking the view that it was a case of succession of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d, Hari Babu and Ram Prasad. Sri Suraj Bhan expired on 30th Nov., 1977 and then Smt. Rukmani Devi wife of the deceased and Sri Arun Kumar were admitted as new partners of the firm. The assessing authority was of the view that there was a change in constitution of the firm in the middle of the year and, therefore, he made one assessment for the entire period. On appeal, the AAC was of the view t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... one of the partners the firm stood dissolved and his view was rightly upheld by the Tribunal. Questions no. 1 and 2 are, therefore, decided in the affirmative, i.e., in favour of the assessee and against the Revenue. 4. Coming to the third question, it would be appropriate to reproduce the finding of the AAC. 6. Depreciation was not claimed in the return for the first period but full de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... duction on account of depreciation and, therefore, I refuse to entertain its plea that the ITO should have on his own allowed full depreciation. It follows that no depreciation would be allowable to the firm that existed in the first period and full depreciation as claimed by the assessee, would be allowable to the firm that existed during the 2nd period. The Tribunal affirmed the aforesaid f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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