2004 (10) TMI 63

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....ppellate Tribunal, Delhi, has referred the following question of law under section 256(1) of the Income-tax Act, 1961, hereinafter referred to as "the Act", for opinion to this court: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in deleting an addition of Rs. 1,54,236 from the income of the assessee-Hindu undivided family?" Briefly stated the facts ....

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....esh Chandra, a member of the Hindu undivided family, admitted that these ornaments belonged to him. Subsequently, in respect of some of the ornaments which were found in flask and jug, he denied his ownership. The Income-tax Officer treated the ornaments as belonging to the Hindu undivided family, the assessee at the hands of the respondent which was confirmed by the Commissioner of Income-tax (Ap....