1. In this case the assessee is a Hindu undivided family. The assessment year is 1947-48 and the accounting year is the Sambat year 2002-2003 Dewali, corresponding to the period from 4-11-1945, to 23-10-1946. In this accounting year there was a credit entry of Rs. 22,940 found in the books of the assessee with regard to the hardware business. When asked to explain the assessee stated that it represented the sale proceeds of gold ornaments of Srimati Purnima Debi, who is the wife of Chagganlal, one of the members of the Hindu undivided family. The explanation was not accepted by the Income-tax Officer, who held that the amount of Rs. 22,940 was the secreted profit of the hardware business. Taking this and other circumstances into account the Income-tax Officer estimated the income to be Rs. 75,000. But on appeal the estimate of profit was reduced to Rs. 50,000 by the Appellate Assistant Commissioner, Both the Income-tax Officer and the Appellate Assistant Commissioner have taken the view that the building constructed at Ranchi and standing in the name of Srimati Purnima Debi really belonged to the Hindu undivided family, and this circumstance should be taken into account in