TMI BlogDiscontinued business.X X X X Extracts X X X X X X X X Extracts X X X X ..... g from the first day of the financial year to the date on which the business has been discontinued. (2) Any person discontinuing any business shall give to the Assessing Officer notice of such discontinuance within a period of fifteen days thereof. (3) Any sum received after the discontinuance of business shall be deemed to be the income of the recipient and charged to tax accordingly in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of the return, or after the expiry of the time allowed for furnishing the return under sub-section (4) proceed to make the assessment in accordance with the provisions of this Code in so far as they apply. (7) The tax payable on the tax bases computed under this section shall be in addition to the tax, if any, payable under any other provision of this Code. - - statute, statutory provisi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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