https://www.taxtmi.com/caselaws?id=277354 A firm carrying on the same tea brokerage business was treated as the continuing business concern, even though the partners changed from time to time. On that footing, the later succession of the firm by a private limited company fell within section 25(4) of the Indian Income-tax Act, because the change was not merely a change in the constitution of a partnership. The absence of any earlier revenue contention that the partnership changes altered the firm's constitution also supported that approach. Relief under section 25(4) was therefore available, and the reference was answered in the affirmative. en-us Tue, 09 Jan 1951 00:00:00 +0530 Sat, 01 Dec 2018 16:20:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277354 A firm carrying on the same tea brokerage business was treated as the continuing business concern, even though the partners changed from time to time. On that footing, the later succession of the firm by a private limited company fell within section 25(4) of the Indian Income-tax Act, because the change was not merely a change in the constitution of a partnership. The absence of any earlier revenue contention that the partnership changes altered the firm's constitution also supported that approach. Relief under section 25(4) was therefore available, and the reference was answered in the affirmative. Case-Laws Income Tax Tue, 09 Jan 1951 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277354