Succession to business or profession otherwise than on death.

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....cceeded therein by any other person (hereinafter referred to as the successor) who continues to carry on that business or profession,- (a) the predecessor shall be assessed in respect of the income of the tax year in which the succession took place up to the date of succession; (b) the successor shall be assessed in respect of the income of the tax year after the date of successi....

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....ar as may be, apply accordingly. (4) When any sum payable under this section in respect of the income of such business or profession assessed on the predecessor,-- (a) for the tax year in which the succession took place up to the date of succession; or (b) for the tax year preceding the year in which the succession took place, cannot be recovered from him, the Assessing Off....