J.M.Tandon, J.

1. This order will dispose of Income-tax References Nos. 22 to 26 of 1972, all relating to the same assessee (M/s. Meera & Co.), referred to us by the Income-tax Appellate Tribunal on the following questions :

"1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that Meera & Co. is a body of individuals and is assessable as such ?

2. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessment of the body of individuals identified as Meera & Co. should be made under Section 4 read with section 2(31)(v) and not under Section 160, 161 or 166 ? "

2. The facts of the case, which are not disputed, are that Shri Prem Narain, an individual, carried on business under the name, M/s. Meera & Co., at Ludhiana. Assessments to income-tax were made on him in his trade name, M/s. Meera & Co. He died intestate on August 25, 1962, survived by his mother, widow and three minor children. All the assets of the deceased, including the business styled as Meera & Co., devolved on his five legal heirs. The mother of the deceased relinquished her interest in the assets of the dece