Sabyasachi Mukharji, J. - (1.) This appeal by special leave arises from a judgment and order of the High Court of Allahabad in respect of a reference under S. 66(1) of the Income Tax Act, 1922 (hereinafter referred to as the 'Act'). The appeal relates to the assessment year 1949-50, the relevant previous year being the year commencing on 24th October, 1947 and ending on 11th October, 1948. The following questions of law were referred to the High Court under S. 66(1) of the Act:"1. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the assessee was not entitled to the relief under S. 25(4) in the year 1949-50 2. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the succession took place on 12th October, 1948 and consequently the benefit of section 25(4) could be availed of only in the year 1950-51 -
(2.) There was another question not connected with the first two which was answered in favour of the assessee and is not the subject-matter of this appeal and need hot be considered.
(3.) In the relevant year, the assessee was a Hindu undivided family carrying on business under the name and style, M/s. Badri Prasad Jagan Prasad, Agra. It had a branch styled as M/s. Jagan Prasad Shiv Prasad of Achnera. The assessee was assessed under the Indian Income Tax Act, 1918.;