Assessment after partition of a Hindu undivided family.
20.(1) Where, at the time of making an
assessment, it is brought to the notice of the 75[Assessing Officer] that a partition has taken place among the members
of a Hindu undivided family, and the 75[Assessing Officer], after inquiry, is satisfied that the joint family
property has been partitioned as a whole among the various members or group of
members in definite portions, he shall record an order to that effect and shall
make assessment on the net wealth of the undivided family as such for the
assessment year or years, including the year relevant to the previous year in
which the partition has taken place, if the partition has taken place on the
last day of the previous year and each member or group of members shall be
liable jointly and severally for the tax assessed on the net wealth of the
joint family as such.
(2) Where the 75[Assessing
Officer] is not so satisfied, he may, by order, declare that such family shall
be deemed for the purposes of this Act to continue to be a Hindu undivided
family liable to be assessed as such.