https://www.taxtmi.com/caselaws?id=291342 Section 25(3) of the Income-tax Act, 1922 applied only where tax had earlier been charged under the 1918 Act on business, profession or vocation that was later discontinued. Property income was treated by the Act as a separate head from business profits, and the computation provisions kept those heads distinct. On that construction, an assessee assessed only on property income could not claim the relief. The question was answered in the negative, and the assessee was denied the benefit of Section 25(3). en-us Wed, 24 Apr 1946 00:00:00 +0530 Fri, 06 Nov 2020 14:48:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291342 Section 25(3) of the Income-tax Act, 1922 applied only where tax had earlier been charged under the 1918 Act on business, profession or vocation that was later discontinued. Property income was treated by the Act as a separate head from business profits, and the computation provisions kept those heads distinct. On that construction, an assessee assessed only on property income could not claim the relief. The question was answered in the negative, and the assessee was denied the benefit of Section 25(3). Case-Laws Income Tax Wed, 24 Apr 1946 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291342