section 188
Succession of one firm by another firm.
The Income Tax Act 1961Tax1961681 sections21 chapters
Chapter XV LIABILITY IN SPECIAL CASES A.—Legal representatives
Statutory text
Where a firm carrying on a business or profession is succeeded by another firm, and the case is not one covered by section 187, separate assessments shall be made on the predecessor firm and the successor firm in accordance with the provisions of section 170.
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