TaxTMI 
TaxTMI 
1976 (9) TMI 76
X X X X Extracts X X X X
X X X X Extracts X X X X
....x relating to the assessment years 1970-71 and 1971-72. Since the issue involved is common, we consolidate these two appeals and dispose them by a common order. 2. The only issue involved is whether the income derived from properties on the death of the assessee's father intestate should be assessed in the hands of the assessee as his "individual" income. The assessee is the son of late Shri. P....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... whereas, the assessee claimed that such income should be assessed in the status of Hindu Undivided family consisting of the three sons, their wives and children and the mother. It was also claimed before the Income-tax Officer that the income from the business started with the capital obtained from the sale proceeds of some of the properties which were divided among the brothers should also be as....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ho died intestate and who received the properties from his maternal uncle were ancestral in character. He submitted that the assessee's 1/4th share income from the properties received from his father and the business income earned out of the funds received from the assets of his father should be assessed in the hands of the assessee as an individual. He referred us to the decision in 96 ITR 634 in....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... stand of the Revenue. On the other hand the ruling of Gujarat High Court in the case of Commissioner of Wealth- tax Gujarat I vs. Harshadlal Manilal (1) clearly supports the stand of the assessee. Their Lordships of Gujarat High Court in the above judgment had followed the ruling of the Supreme Court in the case of Arunachala Mudaliar vs. Muruganatha Mudaliar (2) and observed as under at page 96:....