Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
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Special provisions relating to firms

Rajendran Nallusamy ,
  05 December 2008       Share Bookmark

Court :
Allahabad High Court
Brief :

Citation :
2007) 288 ITR 21 (All.)
In CIT vs. Pramount Trading Corporation (2007) 288 ITR 21 (All.), the assessee firm’s partnership deed contained a clause that in the event of death of a partner, the firm shall be continued by other surviving partners. In this case, it will not be treated as succession of firm as provided u/s. 188. Therefore, assessment u/s.143 or u/s.144 shall be made as per sec. 187 since it is not treated as a change in constitution.

 
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