2002 (8) TMI 10

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the Revenue, the following question of law, arising out of the order dated January 28, 1988, passed by the Income-tax Appellate Tribunal, Ahmedabad Bench "C", in I.T.A. No. 563/Ahd of 1986, has been referred to this court for its opinion under the provisions of section 256(2) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"): "Whether the Appellate Tribunal is right in law in h....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Darshan Traders as a trustee of Rangraj Keshrimal Family Trust. It is pertinent to note that the income, which the assessee had received, had in fact gone to the beneficiaries and the beneficiaries were also assessed in respect of the said income. Being aggrieved by the order passed in appeal by the Appellate Assistant Commissioner, the Revenue had filed an appeal before the Tribunal. The Tribuna....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t been assessed in the hands of the beneficiaries, it could not have been said to be the income of the assessee. In the circumstances, the Assessing Officer was not right in holding that the share of income received by the assessee from M/s. Darshan Traders was income of the assessee especially when M/s. Darshan Traders was a firm duly registered and the said firm had also been assessed. It is als....