Judgment

HEGDE, J: The question of law arising for decision in these appeals by certificate under S. 66A (2) of the Indian Income-tax Act, 1922 (to be hereinafter referred to as the Act) is:

"Whether on the facts and in the circumstances of the case, the managing director s remuneration received by Sri Rajkumar Singh was assessable in his individual hands and not in the hands of the assessee Hindu Undivided Family?"

2. This question was referred by the Income-tax Appellate Tribunal, Bombay Bench A to the High Court of Judicature at Bombay (of M. P.?) on an application made under S. 66 (1) of the Act by the Commissioner of Income-tax Madhya Pradesh. The High Court has answered that question in favour of the Revenue. As against that decision this appeal has been brought.

3. The assessee in this case is a Hindu Undivided Family and the concerned assessment year is 1954-55, the relevant accounting period being the year ending Diwali 1953 i.e. November 6, 1953. Previously a Hindu Undivided Family was carrying on business under the name and style of Sarupchand Hukamchand. That family was carrying on several businesses one of which was the management certain mills. That family disrupted on