https://www.taxtmi.com/caselaws?id=168778 Section 26(2) of the Indian Income Tax Act, 1922 applies only where a business is succeeded to by another person in the sense of a transfer of ownership, so that the successor carries on as owner. Where a Hindu undivided family business devolves on a surviving member by survivorship, there is no such transfer from one person to another because the survivor was already an owner in part. On that reasoning, devolution by survivorship was held not to amount to succession within the section, and the petitioner was not liable to assessment under section 26(2). en-us Wed, 02 Oct 1935 00:00:00 +0530 Thu, 26 Mar 2015 14:19:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168778 Section 26(2) of the Indian Income Tax Act, 1922 applies only where a business is succeeded to by another person in the sense of a transfer of ownership, so that the successor carries on as owner. Where a Hindu undivided family business devolves on a surviving member by survivorship, there is no such transfer from one person to another because the survivor was already an owner in part. On that reasoning, devolution by survivorship was held not to amount to succession within the section, and the petitioner was not liable to assessment under section 26(2). Case-Laws Income Tax Wed, 02 Oct 1935 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168778