https://www.taxtmi.com/caselaws?id=49293 A newly constituted partnership that takes over the business immediately after dissolution of the earlier firm is treated as carrying on the business at the commencement of the amending Act for section 25(4) relief. The Court construed the partnership deed and surrounding circumstances to find that the earlier firm ended on 31 March 1939 and the successor partnership began immediately thereafter, bringing the assessee within the statutory requirement. Section 5(3) of the General Clauses Act, 1897 supported the view that the Act came into operation immediately after the expiry of that day. The assessee was therefore entitled to relief under section 25(4) of the Indian Income-tax Act, 1922. en-us Fri, 19 Nov 1965 00:00:00 +0530 Tue, 19 Aug 2014 08:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49293 A newly constituted partnership that takes over the business immediately after dissolution of the earlier firm is treated as carrying on the business at the commencement of the amending Act for section 25(4) relief. The Court construed the partnership deed and surrounding circumstances to find that the earlier firm ended on 31 March 1939 and the successor partnership began immediately thereafter, bringing the assessee within the statutory requirement. Section 5(3) of the General Clauses Act, 1897 supported the view that the Act came into operation immediately after the expiry of that day. The assessee was therefore entitled to relief under section 25(4) of the Indian Income-tax Act, 1922. Case-Laws Income Tax Fri, 19 Nov 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49293