Law:

Section:

JUDGMENT Goswami, CJ.-Th e present assessee is admittedly a Hindu undivided family (H.U.F.) carrying on business in jute and country produce in the name and style of Tolaram Bijoy Kumar, of which Tolaram Saraf is the karta, and the reference relates to the assessment year 1960-61, the relevant previous year being 2016 R.N. corresponding to 1959-60. This assessee started business some time after March 28, 1959, as will be seen later. The facts and circumstances that may be gathered from the statement of case of the Tribunal may briefly be stated. Tolaram, the karta of the present assessee, H.U.F., is the son of Narmal. Narmal died in the year 1945, leaving three sons Srinivas, Nathmal and Tolaram. The past history is as follows: There was a business in the name of Narmal Srinivas in grocery, jute, etc., and it was started in or about the year 1924 at Dhubri. There was a branch at Gouripore. The records of income-tax available showed that Narmal Srinivas was assessed to income-tax during the years 1933-34, 1934-35 and 1935-36. The name of the business was changed to Nathmal Tolaram in the relevant previous year 1936- 37. In that year, as the records revealed, the assessee was Nathmal Tolaram as H.U.F. For the earlier years, the status of that assessee is not clear as the relevant records containing the copies of the assessment orders were not preserved by the department. But, from the assessment year 1942-43, the assessee, Nathmal Tolaram, returned the income from the business as belonging to a H.U.F. up to the assessment year 1949-50. That family of Narmal and his sons, carrying on business as Nathmal Tolaram, remained joint till it was partitioned with effect from April 6, 1949 (the last date of 2005 R.N.). After the partition, the business at Dhubri and Gouripore was converted into a partnership business, as is evidenced by a deed of partnership executed by the three brothers on April 7, 1949 (annexure "A"). The material portion of the deed, for our purpose, may be set out: "Whereas all the parties had formed a Hindu undivided family and were living and carrying on business since long time as members of Hindu undivided family under the name and style of…

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