https://www.taxtmi.com/caselaws?id=6298 Discontinuance under section 25(3) of the Mysore Income-tax Act, 1923 requires actual cessation of the business, not a mere change in its ownership or constitution. Where a Hindu undivided family was partitioned and the same business was continued by a partnership formed by the former coparceners with an additional partner, the business was treated as continuing in substance. The transfer of business assets and liabilities to the firm, together with the partnership deed describing the firm as successor to the family business, showed continuity rather than cessation. No relief was available on the ground of discontinuance, and the revenue's position prevailed. en-us Tue, 10 Aug 1971 00:00:00 +0530 Wed, 03 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6298 Discontinuance under section 25(3) of the Mysore Income-tax Act, 1923 requires actual cessation of the business, not a mere change in its ownership or constitution. Where a Hindu undivided family was partitioned and the same business was continued by a partnership formed by the former coparceners with an additional partner, the business was treated as continuing in substance. The transfer of business assets and liabilities to the firm, together with the partnership deed describing the firm as successor to the family business, showed continuity rather than cessation. No relief was available on the ground of discontinuance, and the revenue's position prevailed. Case-Laws Income Tax Tue, 10 Aug 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6298