9911796707
TMI Blog1990 (11) TMI 135X X X X Extracts X X X X X X X X Extracts X X X X ..... tnership was constituted under a deed of partnership dated February 14, 1971. One of the partners, D. K. Agarwal, died on September 25, 1971. Clause (ii) of the partnership deed provided that the death of a partner shall not result in the dissolution of partnership and that it shall continue notwithstanding the death. Accordingly, the firm continued. A new partnership deed was executed on January ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f this court in CIT v. Shiv Shanker Lal Ram Nath [1977] 106 ITR 342 that, even in the case of reconstitution of a firm, there should be two assessments. Thereupon, the Revenue obtained this reference. The decision in Shiv Shanker Lal Ram Nath's case [1977] 106 ITR 342 (All), has been overruled by a Full Bench of five judges of this court in Vishwanath Seth v. CIT [1984] 146 ITR 249. It was held ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e agree with the reasoning of the said Division Bench. The decision of the Supreme Court was rendered with reference to the language of sub-section (7) of section 184 which is materially different from the language of sub-section (2) of section 187. We, therefore, agree with the Bench decision in CIT v. Basant Behari Gopal Behari and Co.'s case [1988] 172 ITR 662 (All), that the Full Bench decisio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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