2002 (12) TMI 40

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..... of section 187(2) of the Income-tax Act?" - if one or more partners cease to be partners, or one or more new partners are admitted, then it would be a case of reconstitution and not dissolution of the firm, provided that at least one of the partners prior to the change in the firm is a partner after the change. In the present case two members, namely, Smt. Shakuntala and Smt. Urmila, are common, .....

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..... case, the Tribunal was legally correct in upholding the order of the Commissioner of Income-tax (Appeals) directing the Income-tax Officer to assess the income? 2. Whether, on the facts and in the circumstances of the case, it was not the case of mere change in the constitution of the firm within the meaning of section 187(2) of the Income-tax Act?" The assessee is a firm and it was constitute .....

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..... tates: "For the purposes of this section, there is a change in the constitution of the firm- (a) if one or more of the partners cease to be partners or one or more new partners are admitted, in such circumstances that one or more of the persons who were partners of the firm before the change continue as partner or partners after the change; or (b) where all the partners continue with a chang .....

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