Vijayalakshmi Agarbathi Works vs Second Income-Tax Officer on 22 September, 1993
This has been followed in the case of CIT v. Sree Durga Enterprises [ 1984] 145 ITR 351 (Kar.)
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Commissioner Of Income-Tax, Karnataka ... vs Sree Durga Enterprises on 2 September, 1983
Gurujyothi Enterprises vs First Income-Tax Officer on 31 May, 1995
14. Now, let us consider the merits of the case. As discussed by us above, the support given by the CIT(A) to the action of the ITO with the modified order that he should make a single assessment for the entire period, comes almost entirely from the decisions of the Karnataka High Court in the case of Sree Durga Enterprises (supra). The said decision is not a very detailed one.
Ramsahai Nathulal vs Income-Tax Officer on 26 April, 1984
9. To the contrary there is the ruling in CIT v. Sree Durga Enterprises [1984] 145 ITR 351 in which the Karnataka High Court held that where a firm consisting of five partners was dissolved and the same business was continued by one of the partners who took four new partners, it was a case of change in the constitution of a firm and a single assessment for the entire period could be made.
Commissioner Of Income-Tax vs Janatha Textiles on 31 August, 1984
8. The view taken by the Tribunal has been seriously challenged by Mr. Srinivasan, learned counsel for the Revenue. He relied upon the two decisions of this court : (1) in CIT v. Shambulal Nathalal & Co. [1984] 145 ITR 329 and (2) CIT v. Sree Durga Enterprises [1984] 145 ITR 351. The principle laid down in these two decisions is that if the dissolution of a firm is followed by constitution of a new firm with at least one common partner and the new firm takes over the assets and liabilities of the dissolved firm, then it would be a case falling under section 187. But the facts of the present case do not warrant the application of the rule laid down in those two decisions. The old firm which commenced its business on January 8, 1969, was dissolved and the assets and liabilities were distributed amount the new partners. The dissolution of the firm was necessitated for want of a business premises since the firm was thrown out of its business premises. The business was thus brought to a close with effect from September 29, 1973. The newly constituted firm could not commence its business from September 30, 1973. It had to search for a new premises. It was found as a fact that it could not do any business from September 29, 1973, to November 2, 1973.
Ballal And Padival Tiles vs Commissioner Of Income-Tax on 10 October, 1984
10. The question referred should not detain us any longer, since, the matter has been completely covered by the decisions of this court in CIT v. Shambulal Nathalal [1984] 145 ITR 329 and in CIT v. Sree Durga Enterprises [1984] 145 ITR 351. This court has consistently followed that in a case like this, there could not be a single assessment for the whole year.
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