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TMI Blog1985 (12) TMI 9X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 256(1) of the Income-tax Act, 1961 (hereinafter referred to as " the Act "), the Income-tax Appellate Tribunal, Indore Bench, has referred the following question to this court for its opinion : "Whether on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that two assessments should be made for two separate periods ? " The material facts giving ri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he view taken by the Appellate Assistant Commissioner and dismissed the appeal. Hence, at the instance of the Department, the Tribunal has referred the aforesaid question of law to this court for its opinion. Shri Mukati, learned counsel for the Department, was heard. None appeared on behalf of the assessee. Having heard learned counsel for the Department, we have come to the conclusion that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... during an accounting year, the income earned by the firm before the change has to be clubbed with the income earned after such change and a single assessment has to be made on the firm for the entire accounting period. In view of this decision of the Full Bench of this court, the Tribunal, in our opinion, was not justified in law in holding that two assessments should be made for the two separate ..... X X X X Extracts X X X X X X X X Extracts X X X X
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