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The material facts are that the assessee, Badrilal, his three major sons and a minor son, Sureshchandra, constituted a Hindu undivided family till or about 11th September, 1955. The undivided family was carrying on business of forest contracts. On is about 11th September, 1955, there was a partial partition, of the family as regards the business of forest contracts. In this partition, the business capital of the Hindu undivided family was divided between the father and his sons. On 12th September, 1955, a partnership consisting of Badrilal and his three major sons for carrying on the business of forest contracts was brought into existence by a partnership deed. The minor son, Sureshchandra, was admitted to the benefits of the in the division of the business capital was credited in the account books of the firm to the father and his sons respectively. The firm was granted registration under section 26A of the assessment year 1956-57. The registration was renewed for subsequent years.