1993 (9) TMI 47

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....estion of law arising out of its order dated May 27, 1981, in respect of the year 1977-78 : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the Wealth-tax Officer was not justified in including the sum of Rs. 60,000 in the net wealth of the assessee-Hindu undivided family ?" The brief facts of the case are that the assessee-Hindu undivi....

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....hree daughters. The Wealth-tax Officer included the sum of Rs. 60,000 in the net wealth of the assessee itself. The matter was taken before the Appellate Assistant Commissioner where the addition was deleted. In the appeal before the Income-tax Appellate Tribunal it was held that the partial partition was recognised by the Department and there was transfer of funds to the individual accounts....

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....assessment, the interest accrued in these accounts had not been included in the income-tax assessment as income of the Hindu undivided family. There could be a circumstance where by reason of mere entry in the books of account the control over the fund could be with a person different from the one in whose name the account has been credited but in the present case it has not been proved by any evi....