https://www.taxtmi.com/caselaws?id=49442 The Supreme Court upheld the High Court's decisions on both issues regarding the Excess Profits Tax Act. The first issue involved a change in business ownership due to a partition in the family, leading to a general partition recognized by the courts. The second issue focused on the formation of two firms to avoid excess profits tax liability, with the courts finding that the main purpose was indeed tax avoidance. The Supreme Court affirmed the High Court's judgments, emphasizing the factual basis of the decisions and dismissing the appeals with costs awarded to the respondent. en-us Thu, 17 Aug 1961 00:00:00 +0530 Fri, 29 Aug 2014 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49442 The Supreme Court upheld the High Court's decisions on both issues regarding the Excess Profits Tax Act. The first issue involved a change in business ownership due to a partition in the family, leading to a general partition recognized by the courts. The second issue focused on the formation of two firms to avoid excess profits tax liability, with the courts finding that the main purpose was indeed tax avoidance. The Supreme Court affirmed the High Court's judgments, emphasizing the factual basis of the decisions and dismissing the appeals with costs awarded to the respondent. Case-Laws Income Tax Thu, 17 Aug 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49442