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1953 (9) TMI 1 - SC - Income TaxWhether in view of the fact that the partial partition had been accepted by the Income-tax Officer and the business was treated as having been discontinued for the purpose of assessment under the Income-tax Act, the same business could legally be treated as having continued unbroken in respect of the same chargeable accounting period for the purpose of Section 10A of the Excess Profits Tax Act read with Sections 4 and 5 of the same Act ? Held that:- We allow the appeals, set aside the answer made by the High Court to Question No. 1 and answer it as follows : In view of the finding of fact that the old joint family business in Banaras brocade was wound up and was no longer carried on by the joint family as such during the relevant chargeable accounting periods, the same business could not legally be treated as having continued unbroken in respect of such periods for the purpose of Section 10A of the Excess Profits Tax Act read with Sections 4 and 5 of the same Act.
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