MATHURADAS B MOHTA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is a reference under S. 66(1) of the Indian IT Act and four questions have been referred to us. The first two questions relate to the asst. year 1947 -48, and the third and the fourth questions relate to the asst. year 1950 -51. The first question now has remained only academic and the answer to the second question is concluded by the decision of the Supreme Court. We will deal with each question separately and consider the facts relevant to that question while dealing with these questions.

(2.) THE assessee before us is Seth Mathuradas Bulakhidas Mohta, Hinganghat. He had been assessed in the status of an HUF in the asst. year 1947 -48 and has been assessed in the status of individual in the asst. year 1950 -51. The first question that has been referred is in the following terms :

(3.) THE second question is in the following terms :