2001 (1) TMI 26

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....applications are interlinked in the sense that they relate to the same assessee and the dispute revolves round the allowability of interest to the Hindu undivided family (for short "the HUF"), of the assessee. The references have been made under section 256(1) of the Income-tax Act, 1961 (in short "the Act"). So far as the assessment years 1971-72, 1972-73 (I. T. R. Nos. 187-88 of 1981) and 1973-7....

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....bmitted that on the death of Shri B. N. Chadha, his son could not have constituted a Hindu undivided family, that is not an acceptable stand because on or before December 31, 1969, an individual could impress his individual property with the characteristic of a Hindu undivided family by the act of blending. As is fairly well settled, no specific or particular mode of blending is provided for in th....