DUDUWALA AND COMPANY Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THESE seven applications have been filed by the joint receivers and managers of M/s. Duduwala and Company, Bhilwara, appointed by the Calcutta High Court by its order dated September 15, 1960, and the petitioner prays that the Income-tax Appellate Tribunal, Delhi Bench " B ", Delhi, be directed to state the case and refer the questions of law to this court for its opinion.

(2.) M/s. Duduwala and Company was a partnership firm which carried on mica business and consisted of the following partners : <FRM>JUDGEMENT_463_ITR160_1986Html1.htm</FRM>

(3.) ON an application by the assessee, the Appellate Tribunal considered the matter again and by its order dated August 31, 1978, held that although the assessments of the assessee relating to the assessment years referred to above may be made in the status of an association of persons, the tax liability would have to be determined to the same extent as in the case of beneficiaries directly or the erstwhile partners through their representatives, under the provisions of Section 41 of the Indian Income-tax Act, 1922, in respect of the first two assessmet years and under Section 161 of the Income-tax Act, 1961, in respect of the remaining five assessment years.