https://www.taxtmi.com/acts?id=10952 The provision allocates tax assessment within the financial year of a business reorganisation: the predecessor is assessed for income from the start of the financial year until the day before reorganisation, and the successor is assessed for income from the date of reorganisation to the year-end. Proceedings against the predecessor are deemed taken against the successor if the predecessor does not exist or cannot be found and may be continued against the successor from their existing stage. en-us Thu, 20 Aug 2009 13:22:54 +0530 Thu, 20 Aug 2009 13:22:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=10952 The provision allocates tax assessment within the financial year of a business reorganisation: the predecessor is assessed for income from the start of the financial year until the day before reorganisation, and the successor is assessed for income from the date of reorganisation to the year-end. Proceedings against the predecessor are deemed taken against the successor if the predecessor does not exist or cannot be found and may be continued against the successor from their existing stage. Act-Rules Bills Thu, 20 Aug 2009 13:22:54 +0530 https://www.taxtmi.com/acts?id=10952