1985 (12) TMI 9 - HC - Income Tax

Summary

The High Court of Madhya Pradesh ruled that when a firm undergoes a change in constitution during an accounting year, a single assessment should be made for the entire period. The court overruled a previous decision and held that two separate assessments for different periods are not justified. The judgment favored the Department, and the parties were directed to bear their own costs. (Case citation: 1985 (12) TMI 9 - Madhya Pradesh High Court)