https://www.taxtmi.com/caselaws?id=189200 The Court held that the income of the family from 13th April 1938 to 2nd June 1938 was liable to be taxed under Section 25(3) of the Indian Income-tax Act, 1922. The Court clarified that the term "discontinued" in Section 25(3) should be interpreted as the cessation of business, not merely a change in the form of ownership. Additionally, the Court determined that the limitation period under Section 25(5) for claiming relief did not apply to the exemption from tax but only to the claim for adjustment and refund. The Commissioner was awarded costs fixed at Rs. 250. en-us Fri, 12 Mar 1943 00:00:00 +0630 Sat, 31 Dec 2016 13:07:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189200 The Court held that the income of the family from 13th April 1938 to 2nd June 1938 was liable to be taxed under Section 25(3) of the Indian Income-tax Act, 1922. The Court clarified that the term "discontinued" in Section 25(3) should be interpreted as the cessation of business, not merely a change in the form of ownership. Additionally, the Court determined that the limitation period under Section 25(5) for claiming relief did not apply to the exemption from tax but only to the claim for adjustment and refund. The Commissioner was awarded costs fixed at Rs. 250. Case-Laws Income Tax Fri, 12 Mar 1943 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=189200