https://www.taxtmi.com/caselaws?id=7564 Section 25(1) of the Income-tax Act, 1922 is an enabling provision for special assessment on discontinuance or dissolution of business. It permits assessment of income of the broken period in addition to the normal assessment for the previous year, but it does not create a second previous year or expand the earlier previous year to cover income arising after that year. On this analysis, the broken period from 1 July 1959 to dissolution could not be brought into assessment year 1960-61 for registration purposes, and the firm was treated as an unregistered firm for that broken period. en-us Thu, 28 Nov 1968 00:00:00 +0530 Mon, 02 Mar 2009 13:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7564 Section 25(1) of the Income-tax Act, 1922 is an enabling provision for special assessment on discontinuance or dissolution of business. It permits assessment of income of the broken period in addition to the normal assessment for the previous year, but it does not create a second previous year or expand the earlier previous year to cover income arising after that year. On this analysis, the broken period from 1 July 1959 to dissolution could not be brought into assessment year 1960-61 for registration purposes, and the firm was treated as an unregistered firm for that broken period. Case-Laws Income Tax Thu, 28 Nov 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7564