https://www.taxtmi.com/caselaws?id=189198 The word "discontinued" in Section 25(3) of the Indian Income-tax Act, 1922 denotes complete cessation of a business, not a transfer or succession to another person who continues it. The 1939 amendment did not enlarge that meaning; instead, it created a separate relief for succession under Section 25(4) and confirmed the distinction between discontinuance and succession. Section 26, dealing with apportionment on succession, did not alter the scope of Section 25(3). Relief under Section 25(3) was therefore unavailable where the business merely changed ownership, and the reference was answered against the assessee. 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 word "discontinued" in Section 25(3) of the Indian Income-tax Act, 1922 denotes complete cessation of a business, not a transfer or succession to another person who continues it. The 1939 amendment did not enlarge that meaning; instead, it created a separate relief for succession under Section 25(4) and confirmed the distinction between discontinuance and succession. Section 26, dealing with apportionment on succession, did not alter the scope of Section 25(3). Relief under Section 25(3) was therefore unavailable where the business merely changed ownership, and the reference was answered against the assessee. Case-Laws Income Tax Tue, 29 May 1945 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=189198