87. Assessment in case of constitution of new successor firm.-

87.  Assessment in  case of  constitution  of  new  successor firm.- 

Where,  at the time of assessment of a firm, it is found that a new firm has been constituted to succeed the firm to which the assessment relates and it cannot be c overed by  section  86,  separate  assessments  shall  be  made  on  the  predecessor  firm and  the  successor  firm  in  accordance  with  the  provisions  of  section  88 relating to assessment in case of succession to business.

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