https://www.taxtmi.com/caselaws?id=286973 Section 24-B of the Income-tax Act, 1922 was intended to cure the inability to tax a deceased person's estate, but it did not displace Section 26(2). Where a person carrying on a business dies and another succeeds to that business, the two provisions are read together: Section 24-B applies to the deceased's estate generally, while the business profits remain assessable on the successor under Section 26(2) as if the business had been carried on throughout the previous year. The business income is therefore not assessed wholly under Section 24-B. en-us Fri, 22 Oct 1943 00:00:00 +0630 Mon, 23 Mar 2020 13:31:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286973 Section 24-B of the Income-tax Act, 1922 was intended to cure the inability to tax a deceased person's estate, but it did not displace Section 26(2). Where a person carrying on a business dies and another succeeds to that business, the two provisions are read together: Section 24-B applies to the deceased's estate generally, while the business profits remain assessable on the successor under Section 26(2) as if the business had been carried on throughout the previous year. The business income is therefore not assessed wholly under Section 24-B. Case-Laws Income Tax Fri, 22 Oct 1943 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=286973