Ram Rakha Mal & Sons Ltd. vs Commissioner Of Income Tax
Whether a Hindu Undivided Family (HUF) that has not completely disrupted can be succeeded by a limited company for tax assessment purposes under Section 26(2) of the Income Tax Act 1922 --- Held Yes, to the extent of separable businesses. Whether assessment on a successor company requires fresh notice under Section 34 when notice was served on the predecessor HUF --- Held No. Whether salary payments to family members are deductible from income assessed on the successor --- Held No.
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