1978 (10) TMI 20

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.... The facts, briefly stated, are that in the assessment year 1951-52, the assessee was assessed as an individual. He was allowed a sum of Rs. 57,200 as business loss in respect of 369 shares on the ground that the market value of shares in the previous year had fallen. In the assessment year 1965-66, the status of the assessee was HUF. In the previous year, corresponding to this assessment year,....

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....ate Tribunal was justified in holding that the amount of Rs. 57,200 which is allowed as loss on sale of shares in the assessment year 1951-52 in the status of individual is profit assessable to tax under s. 41(1) of the Act in the hands of the applicant-Hindu undivided family in the assessment year 1965-66 ? " The Tribunal refused to refer the aforesaid question in the form in which it was form....

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....2 is a part of the statement of the case submitted by the Tribunal. That order shows that the status of the assessee then was 'individual'. There is no dispute that the status of the assessee in the assessment year 1965-66 is HUF. The point that the assessee wanted to raise was that as there was no identity of status of the assessee in the assessment years 1951-52 and 1965-66, s. 41(1) was not att....