https://www.taxtmi.com/caselaws?id=7731 Relief under section 25(4) of the Indian Income-tax Act, 1922 is not confined to profits and gains assessable under section 10. The provision applies where a person carrying on a business, profession or vocation, earlier taxed under the 1918 Act, is succeeded in that capacity, and the term "business" is not limited by the head under which income is computed. Income arising from business assets retains its business character for this relief even if assessed under other income heads, because the heads of income are only computational modes and do not change the underlying character of the receipt. en-us Tue, 16 Dec 1969 00:00:00 +0530 Wed, 18 Mar 2009 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7731 Relief under section 25(4) of the Indian Income-tax Act, 1922 is not confined to profits and gains assessable under section 10. The provision applies where a person carrying on a business, profession or vocation, earlier taxed under the 1918 Act, is succeeded in that capacity, and the term "business" is not limited by the head under which income is computed. Income arising from business assets retains its business character for this relief even if assessed under other income heads, because the heads of income are only computational modes and do not change the underlying character of the receipt. Case-Laws Income Tax Tue, 16 Dec 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7731