https://www.taxtmi.com/caselaws?id=17397 Where a composite business continues in substance and only one activity is sold, the discontinuance is treated as partial rather than a cessation of the whole business, so entitlement to carry forward and set off unabsorbed losses and depreciation against other income is not lost. The note also states that withdrawal of relief already granted in the original assessment was not justified under section 155 because there was no genuine debatable issue or factual controversy supporting rectification, and reliance on section 154 was rejected. The assessee's claim accordingly remained undisturbed. en-us Tue, 02 Jul 1996 00:00:00 +0530 Tue, 22 Sep 2009 12:03:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17397 Where a composite business continues in substance and only one activity is sold, the discontinuance is treated as partial rather than a cessation of the whole business, so entitlement to carry forward and set off unabsorbed losses and depreciation against other income is not lost. The note also states that withdrawal of relief already granted in the original assessment was not justified under section 155 because there was no genuine debatable issue or factual controversy supporting rectification, and reliance on section 154 was rejected. The assessee's claim accordingly remained undisturbed. Case-Laws Income Tax Tue, 02 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17397