https://www.taxtmi.com/caselaws?id=49673 Partition of a joint Hindu family and reconstitution of a firm can amount to a change in the persons carrying on the business where the original taxable entity ceases to exist and individual coparceners replace the family unit in the partnership deed. On that basis, section 8(1) of the Excess Profits Tax Act applied against the assessee. The Commissioner could also rectify the earlier order under section 20 because the relevant facts were already disclosed in the statutory records, and the error was therefore apparent from the record in the legal sense. The rectification was upheld. en-us Wed, 15 Feb 1956 00:00:00 +0530 Mon, 08 Sep 2014 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49673 Partition of a joint Hindu family and reconstitution of a firm can amount to a change in the persons carrying on the business where the original taxable entity ceases to exist and individual coparceners replace the family unit in the partnership deed. On that basis, section 8(1) of the Excess Profits Tax Act applied against the assessee. The Commissioner could also rectify the earlier order under section 20 because the relevant facts were already disclosed in the statutory records, and the error was therefore apparent from the record in the legal sense. The rectification was upheld. Case-Laws Income Tax Wed, 15 Feb 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49673