1923 (3) TMI 1

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....ome Tax to the High Court under Section 51 of the Income Tax Act, VII of 1918, read with Section 6 of the Super Tax Act 1920. The question for decision is whether the assessees who the registered firm of M. Doraiswamy Aiyangar & Bros. are, are assessable to super tax as an undivided Hindu family and the specific questions put to us are as follows: (1) Does the registration of the brothers....

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....er dated the 5th August 1922, the concluding paragraph of which runs as follows: On the whole, no adequate evidence has been adduced which would enable one to record a finding as a fact whether the original capital of the firm was wholly or in part derived from joint family hinds. 3. To that is appended the following statement: It can only be inferred from the conduct of the a....

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....tically form the joint family." A Joint family consist? of certain definite persons arid a given individual must either if member of it or not, The general legal position appears to us to be beyond doubt. Members of a joint family may engage in trade in such a way as to embark on the adventure funds of the joint family and pledge its credit to their undertaking. On the other hand, the members of a....

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....a definite sum to be re-paid by the trading firm just as if it was a loan from strangers. In the present case the accounts appear to show that such a course has been pursued here and that the amounts advanced by Mr. M. Ananthachariar, the father of the assesses, and apparently the manager of the joint family of which they are all admittedly members, were treated as a mere loan for the purpose of t....