1985 (12) TMI 46 - HC - Income Tax

Summary

The High Court of Rajasthan held that the firm was dissolved on the death of a partner, not a change in constitution. Therefore, provisions of section 187(1) and (2) of the Income-tax Act, 1961 would not apply. The Tribunal's decision was not correct, and both questions were answered in favor of the assessee. Each party will bear their own costs, and the answer will be returned to the Tribunal as per section 260(1) of the Act.