1936 (3) TMI 14 - HC - Income Tax

Summary

The High Court of Madras held that when all members of a Hindu undivided family form a firm after separation to continue the family business, the assessment should be done on the members as if no separation had occurred, in accordance with Section 25-A(2) of the Income Tax Act. The court emphasized that there must be a transfer of ownership for succession to apply. The judgment was supported by all judges. (Case citation: 1936 (3) TMI 14 - Madras High Court)