2004 (5) TMI 45

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....f the Income-tax Act, 1961, by which the appellant has challenged the judgment, dated February 27, 2004 of the Income-tax Appellate Tribunal, New Delhi. All these appeals have been decided by the impugned common judgment. Since they involve identical questions of law hence they are being decided by this common judgment. We have heard Shri R. R. Agrawal, learned counsel for the appellant, and le....

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....4,90,091.02. On November 2, 1991, he received further interest of Rs. 4,82,593.35. Thus, the total interest received is Rs. 9,72,684.37. On February 25, 1992, Giridhari Lal died. On March 31, 1992, proceeding under section 148 was initiated for the assessment years 1986-87 to 1991-92 by issuing notices to the legal heirs of the late Giridhari Lal and six assessment orders were passed under section....

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....eals), Meerut, dated February 22, 1997, and held the status of the late Giridhari Lal to be individual. The Tribunal further held that income by way of interest on the enhanced compensation was taxable in the hands of the late Giridhari Lal as individual. Learned counsel for the appellant submitted that Gayasen having died in the year 1977 intestate, his property on his death became a Hindu und....

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....r is ancestral property. Hence even if the property in question was the self-acquired property of Gayasen, it became Hindu undivided family property on his death in the hands of his sons. The Tribunal has held that after the death of Gayasen the self-acquired property devolved on his son, Giridhari Lal, in his individual capacity. This view is clearly incorrect. The property may have been the self....