Change in constitution of the firm

Last updated: 10 July 2008

Court :

Brief :
Case Fact: Whether separate assessments have to be made by the I.T.O on the two returns filed by the firm which was dissloved and reconstitued.

Citation :
C.I.T. Vs. Hindustan Motors Finance Co.

Decision: Held by the Hon'ble court that the firm dissolved and reconstituted was merely a change in constitution of the firm u/s 187 and not a case of succession u/s188. Hence,only one assessment had to be made.