Succession to business otherwise than on death

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..... een succeeded therein by any other person (hereinafter in this section 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 previous 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 previous year af .....

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..... ll the provisions of this Act shall, so far as may be, apply accordingly. Explanation. -For the purposes of this sub-section, the term pendency means the period commencing from the date of filing of application for such succession of business before the High Court or tribunal or the date of admission of an application for corporate insolvency resolution by the Adjudicating Authority as defin .....

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..... he predecessor any sum so paid. (4) Where any business or profession carried on by a Hindu undivided family is succeeded to, and simultaneously with the succession or after the succession there has been a partition of the joint family property between the members or groups of members, the tax due in respect of the income of the business or profession succeeded to, up to the date of succession, .....

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