https://www.taxtmi.com/caselaws?id=66484 The Tribunal held that Section 176(3A) of the Income-tax Act was not applicable as the business of the firms had not been discontinued, but rather suspended. The income received should be assessed in the hands of the firms or their partners, not the individual assessee. The appeal was allowed, affirming the Commissioner (Appeals) findings, albeit on different grounds. en-us Fri, 31 Oct 1986 00:00:00 +0530 Thu, 24 Feb 2011 18:48:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66484 The Tribunal held that Section 176(3A) of the Income-tax Act was not applicable as the business of the firms had not been discontinued, but rather suspended. The income received should be assessed in the hands of the firms or their partners, not the individual assessee. The appeal was allowed, affirming the Commissioner (Appeals) findings, albeit on different grounds. Case-Laws Income Tax Fri, 31 Oct 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66484