https://www.taxtmi.com/caselaws?id=189198 The appeal was allowed, with the High Court answering the questions in the negative. The respondent was directed to pay the appellant's costs. The judgment upheld a narrow interpretation of "discontinued" in Section 25(3) of the Indian Income-tax Act, emphasizing complete cessation of business. It clarified that amendments did not alter this interpretation and highlighted the need for legislative clarity to prevent unintended tax assessment consequences. The interaction between Sections 25 and 26 was analyzed, affirming that legislative changes should be addressed through amendments, not judicial interpretation. en-us Tue, 29 May 1945 00:00:00 +0630 Sat, 31 Dec 2016 12:56:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189198 The appeal was allowed, with the High Court answering the questions in the negative. The respondent was directed to pay the appellant's costs. The judgment upheld a narrow interpretation of "discontinued" in Section 25(3) of the Indian Income-tax Act, emphasizing complete cessation of business. It clarified that amendments did not alter this interpretation and highlighted the need for legislative clarity to prevent unintended tax assessment consequences. The interaction between Sections 25 and 26 was analyzed, affirming that legislative changes should be addressed through amendments, not judicial interpretation. Case-Laws Income Tax Tue, 29 May 1945 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=189198