https://www.taxtmi.com/caselaws?id=49713 A Supreme Court note on excess profits tax explains that a finding of tax avoidance could be sustained on the record where a partial partition and new partnerships were formed when profits were rising and the explanation did not account for the timing or terms of the arrangement. It also states that Section 10A could not be used to assess a business that had been wound up and was no longer carried on during the relevant chargeable accounting periods, because the charging provisions applied only to an existing business. The anti-avoidance provision could not deem a discontinued business to continue for tax liability purposes. en-us Wed, 23 Sep 1953 00:00:00 +0530 Wed, 10 Sep 2014 13:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49713 A Supreme Court note on excess profits tax explains that a finding of tax avoidance could be sustained on the record where a partial partition and new partnerships were formed when profits were rising and the explanation did not account for the timing or terms of the arrangement. It also states that Section 10A could not be used to assess a business that had been wound up and was no longer carried on during the relevant chargeable accounting periods, because the charging provisions applied only to an existing business. The anti-avoidance provision could not deem a discontinued business to continue for tax liability purposes. Case-Laws Income Tax Wed, 23 Sep 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49713