Supreme Court of India
M/s. Sarupchand Hukamchand & Co. v. Union of India and Others
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What the Court ordered
In the result, the appeal is allowed with costs throughout to be paid by respondents 2 and.
Judgment, page 17
From the headnote
Income-tax--Assessment of unregistered firni treated as regis tered by Income-tax Officer-Appeal against orders of assessment Finding of profit reversed and fresh ·assessment dirccted-Effect Duty of ·Income-tax Officer-Indian Income-tax Act, I922 (XI of I922), SS. 23(5)(b), 24(2)(d) and JI(4). The Income-tax Officer found that the assessee, an unregis tered firm, had made a profit in the assessment year I940-4r. He treated it as registered under s. 23(5)(b) of the Act, assessed the partners and carried the profit to their individual returns, making no demand on the firm. For the next t\vo
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