https://www.taxtmi.com/caselaws?id=7022 Section 25(3) relief applied where a Hindu undivided family business had been legally discontinued after partition and later reconstituted as a partnership by former members. The governing test was complete cessation of the original business entity, not mere continuity of name, premises, customers, or trading method. Because the business assets were partitioned and later brought together into a new partnership, the later concern was treated as a distinct business rather than a continuation of the earlier family business. On that basis, the original business was regarded as discontinued in law and the exemption was available. en-us Wed, 04 Jan 1967 00:00:00 +0530 Sat, 07 Feb 2009 19:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7022 Section 25(3) relief applied where a Hindu undivided family business had been legally discontinued after partition and later reconstituted as a partnership by former members. The governing test was complete cessation of the original business entity, not mere continuity of name, premises, customers, or trading method. Because the business assets were partitioned and later brought together into a new partnership, the later concern was treated as a distinct business rather than a continuation of the earlier family business. On that basis, the original business was regarded as discontinued in law and the exemption was available. Case-Laws Income Tax Wed, 04 Jan 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7022