BALDEO PRASAD SITA RAM Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS reference comes to us on a requisition made by this Court on an application under Section 66 (2) of the Income-tax Act read with Section 21 of the Excess Profits Tax Act. Three questions have been raised in the reference for the opinion of this Court. These questions are as follows :

(2.) THE facts may be stated as follows: THE assessee is a Hindu undivided family. Its genealogical table is as follows: <FRM>JUDGEMENT_729_ITR47_1963Html1.htm</FRM>

(3.) IN income-tax proceedings the firm was granted registration and its income was assessed separately from the income of the Hindu undivided family which in spite of the formation of the partnership continued to carry on the ancestral silk business as before and continued to be assessed on the income of that business.