Assessment when assets are held by certain associations of persons

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....pany or co-operative society ^2[or society registered under the Societies Registration Act, 1860 (21 of 1860) or under any law corresponding to that Act in force in any part of India], and the individual shares of the members of the said association in the income or assets or both of the said association on the  date of its formation or at any time thereafter are indeterminate or unknown, the....

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....s may be, shall apply to such assessment.       (3) Without prejudice to the generality of the provisions of sub-section (2), if the ^5[Assessing Officer] or the ^6[Deputy Commissioner (Appeals)] or the Commissioner (Appeals) in the course of any proceedings under this Act in respect of any such association of persons as is referred to in sub-section (1) is satisfied th....

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....d, the proceedings may be continued against the persons referred to in sub-section (4) from the stage at which the proceedings stood at the time of such discontinuance or dissolution, and all the provisions of this Act shall, so far as may be, apply accordingly.      ^7Explanation.-[Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.]       --------....