2005 (2) TMI 104

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....er 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 Income-tax Appellate Tribunal was correct in law to hold that the share income of Rs. 8,845 received from M/s. Amrit Lal Subhas Chand is not includible in the assessee's income liable to tax although the issue with rega....

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....al partition of an immovable property on October 31, 1976. As per this partition two groups were again formed, one comprising of Kewal krishna and Rajesh Kumar and another Yogesh Chander and Rajesh Kumar. The partial partition claims were accepted by the Income-tax Officer but he treated the groups as tenants-in-common and 50 per cent. of the income arising from the assets under partition were inc....