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PETITIONER: FIRM OF BHAGAT RAM MOHANLAL
Vs.
RESPONDENT: THE COMMISSIONER OF EXCESS PROFITS TAX, MADHYA PRADESH,
DATE OF JUDGMENT: 15/02/1956
BENCH: AIYYAR, T.L. VENKATARAMA BENCH: AIYYAR, T.L. VENKATARAMA DAS, SUDHI RANJAN BHAGWATI, NATWARLAL H.
CITATION: 1956 AIR 374 1956 SCR 143
ACT: Indian Income-Tax Act, 1922 (XI of 1922), s. 26:-A-Excess Profits Tax Act, 1940 (Act XV of 1940), ss. 7,8(1) and 20- Registration of appellant firm-Partners-Hindu undivided family consisting of karta and his two brothers and two others-Made profits in two accounting years and assessed to excess profits-Loss during the succeeding year-Profits set off against loss under s. 7 of the Excess Profits Tax Act- Partition of joint family-Appellant firm reconstituted under fresh agreement-Consisting of five partners-Erstwhile karta and his two brothers and two previous partners-Whether a change in the persons carrying on business within the meaning of S. 8(1) of the Excess Profits Tax Act-Whether previous order paying back excess profits to assessee a mistake apparent on the record within the meaning of s. 20 of the Excess Profits Tax Act.
HEADNOTE: The firm of Bhagat Ram Mohan Lal-Appellant-constituted on 23-8-1940 was registered under s. 26-A of the Indian Income- tax Act, the partners of the firm according to the registration certificate being (1) Bhagat ...