1989 (5) TMI 9

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....ssessable in the hands of the assessee. Hindu undivided family and in directing exclusion of the said income from total income of the assessee's family?" The material facts bearing on the question referred to us are stated hereafter. The assessee family is governed by the Dayabhaga school of Hindu law. Formerly, the entire property belonged to a Hindu undivided family which consisted of four brothers, Satindra, Narendra, Prafulla and Radheshyam. Satindra died leaving behind him his two sons, Bhairab and Gopal. Thereafter the Hindu undivided family consisted of five members, namely, Bhairab and Gopal, the sons of Satindra (deceased) and their uncles Narendra, Prafulla and Radheyshyam. There is no dispute that, till before the previous year....

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....He also contended that, in any event, the shares of the different members of the family in the said property being definite and ascertainable, the case would be governed by section 9(3) of the Indian Income-tax Act, 1922, and, therefore, the income from the Schedule 'B' property remaining after the gift would not be assessable in the hands of the Hindu undivided family. He argued that the individual members of the family were, in view of the specific terms of section 9(3), liable to be assessed on their respective shares in such property separately. He relied on the decision of the Calcutta High Court in the case of Biswa Ranjan Sarvadhikary v. ITO [1963] 47 ITR 927. Following the said judgment in the case of Biswa Ranjan Sarvadhikary [196....