MADANLAL Vs. COMMISSIONER OF INCOME TAX BHOPAL

JUDGEMENT

(1.) THIS judgment shall also govern the disposal of Miscellaneous civil Case No. 586 of 1971 (Satish Kumar and Co. v. Commissioner of Income-tax, Bhopal ).

(2.) THE Income-tax Appellate Tribunal has under section 256 (1) of the income-tax Act, 1961, in each of the two cases, stated the case, and referred the questions for the decision of this Court.

(3.) THE assessee in Misc. Civil Case No. 12 of 1972 is Madanlal Hindu undivided family, having more than one minor coparceners. The case relates to the assessment years 1960-61 and 1961-62, corresponding to the previous years ending 31 3-1960 and 31-3-1961, respectively. The assessee in Misc. Civil Case No. 586 of 1971, is M/s Satish Kumar and Co. , which for the years under reference is a registered firm. This case relates to the assessment years 1960-61 and 1961-62 corresponding to the period ending 31-10-1959 and 18-10-1960 respectively.