https://www.taxtmi.com/caselaws?id=277234 Section 8(1) of the Excess Profits Tax Act, 1940 treats a business as discontinued and a new business as commenced when there is a change in the persons carrying it on. After disruption of a Hindu undivided family, the business previously carried on by the family unit and a stranger was thereafter carried on by the former coparceners individually with the same stranger. Because a Hindu undivided family is a "person" under the Act, and the family as a unit ceased to exist on partition, the composition of the persons carrying on the business changed. The answer was therefore against the assessee. en-us Mon, 02 Aug 1948 00:00:00 +0530 Thu, 29 Nov 2018 15:17:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277234 Section 8(1) of the Excess Profits Tax Act, 1940 treats a business as discontinued and a new business as commenced when there is a change in the persons carrying it on. After disruption of a Hindu undivided family, the business previously carried on by the family unit and a stranger was thereafter carried on by the former coparceners individually with the same stranger. Because a Hindu undivided family is a "person" under the Act, and the family as a unit ceased to exist on partition, the composition of the persons carrying on the business changed. The answer was therefore against the assessee. Case-Laws Income Tax Mon, 02 Aug 1948 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277234