https://www.taxtmi.com/caselaws?id=272403 Section 25(3) of the Indian Income Tax Act, 1922 was read as granting relief for the income, profits and gains of a discontinued business as a whole, rather than only amounts assessed under the head of business income. The court treated the separate heads of income as computation provisions, not as limits on the scope of the exemption. Because the securities were held as stock-in-trade of the business, the interest derived from them was included in the business income for relief under section 25(3), and the assessee was entitled to the exemption. en-us Mon, 23 Sep 1957 00:00:00 +0530 Wed, 02 May 2018 11:21:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272403 Section 25(3) of the Indian Income Tax Act, 1922 was read as granting relief for the income, profits and gains of a discontinued business as a whole, rather than only amounts assessed under the head of business income. The court treated the separate heads of income as computation provisions, not as limits on the scope of the exemption. Because the securities were held as stock-in-trade of the business, the interest derived from them was included in the business income for relief under section 25(3), and the assessee was entitled to the exemption. Case-Laws Income Tax Mon, 23 Sep 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272403