Court : Madhya Pradesh
Reported in : [1942]10ITR60(MP)
This is an application under Section 66 (3) of the Indian Income-tax Act.The Commissioner of Income-tax refused to state a case, The applicants case us that Chhedi Lal and Sons. On the 22nd July, 1934, he executed his last will, under which he gave a half share to his two sons Rikhi Lar and Shyam Sundar, and the other half to his three grandsons, Nand Kishore, Jamuna Prasad and Laxmi Narain, sons of his third son Barati Lal. In 1935 Chhedi Lal died and the legatees became owners of the business. These legatees did not take the property as members of a joint Hindu family but as legatees did not take the property as members of a joint Hindu family but as legatees in specific shares. They continued the business which is still going on. The assessment relates to the income of this business. Till 1937 these legatees did not take any steps to get the business registered under the Income-tax Act. On the 13th January. 1939, they applied for registration of the business under Section 26A of the...
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