Judgement

SIKRI, J. : This appeal, by certificate of the High Court of Madras, is directed against its judgment in a reference made to it under S. 66(1) of the Indian Income-tax Act, 1922 hereinafter referred to as the Act, by the Income-tax Appellate Tribunal, Madras. The question referred to was " whether the assessment of the income of the assessee, other than his salary in the hands of the assessee, as an individual and not as a Hindu undivided family till 11th December, 1952, for the assessment year 1953-54 is valid."

2. The question arose out of the following facts. The appellant, hereinafter referred to as the assessee, is the youngest son of T. V. Sundaram Ayyangar, who was the Karta of a Hindu undivided family consisting of a number of persons. There was a partition of the above family and 150 shares of Rs. 1,000 each in T. V. Sundaram Iyengar and Sons Limited, a private limited company, were divided equally among the co-parcencers, the assessee getting 25 shares of the value of Rs. 25, 000. With the aforesaid shares as nucleus, the assessee acquired house-properties, shares and deposits upto March 31, 1952. As the assessee was also the Service Manager of the aforesaid priva