Supreme Court of India
Firm of Bhagat Ram Mohanlal v. The Commissioner of Excess Profits Tax, Madhya Pradesh, Nagpur and Another.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
In the result, the appeal fails, and is dismissed with costs. (1) (1945] 13 I.T.R. 113. 1956 Firm of Bhagat Ram Mohanlal v.
Judgment, page 11
From the headnote
Indian Income-Tax Act, 1922 (XI of 1922), s. 26- -Excess Profits Tax Act, 1940 (Act XV of 1940), ss. 7, 8(1) and 20-Registra tion of appellant firm-Partners-Hindu undivided family consist ing 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 reconsti tuted under fresh agreement-Consisting of five partners-Erstwhile karta and his two brothers and two previous partners- Whether a change…
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