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Mukand Lal Vs. Income-tax Officer, a Ward, Varanasi.

Court : Allahabad

Reported in : [1963]49ITR354(All)

..... assessment year 1947-48, the second proviso to section 34(3) as it stood before its amendment in 1953 with retrospective effect only till april 1, 1952, would be applicable and as no assessment had previously been made for 1947-48 and 1948-49 on the petitioners the issue of section 34 notice would be barred by the prescribed limitation of four years and in any event the unamended second proviso to section 34(3) would have no application as that only applied to a ..... examined all the materials on the record and it found as follows :'all the circumstances in the case, therefore, can only lead to the conclusion that mukand lal and damodar das were partners in their individual capacities whereas there is no material at all for the reverse finding that they were partners as representing the hindu undivided family. ..... 1960 is by hiralal, son of the aforesaid mukand lal sarraf, and it is concerned only with the assessment years 1948-49 and 1949-50.the question which arise in these petitions is whether the petitioners can be assessed under section 34(1)(b) read with the second proviso to section 34(3) of the indian income-tax act, 1922, hereinafter referred to as the act, for the aforesaid relevant years in the status of an individual in respect of the share income of the first two ..... , it was held :'the hindu undivided family is not a separate legal entity from those who constitute it as is a company from its shareholders or a corporation from its members. ..... (income-tax miscellaneous case no. .....