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2000 (1) TMI 5 - DELHI HIGH COURTDissolution of firm - new partnership firm - the preamble of the deed of dissolution negatives the contention that it was a case of mere retirement. - Merely because some partners of the old dissolved firm also became partners in the new firm, it cannot be said that it is a continuation of the old firm - The old firm stood dissolved on execution of the dissolution deed - On dissolution of the firm on May 2, 1969, this relationship terminated. It could not continue - Such a firm cannot be said to be a continuation of the old dissolved firm or to have been reconstituted under section 187(2) - Tribunal was right in law in holding that there should be two separate assessments in respect of the periods - section 187(2) will have no application
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