1991 (11) TMI 29

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... Karmandana and others, amounting to Rs. 10,636 and Rs. 21,436 for the assessment years 1969-70 and 1970-71, respectively, which were assessed as his individual income, could be revised as income from Hindu undivided family in a proceeding under section 147 of the Income-tax Act, 1961, in respect of the assessed income from another partnership firm, Messrs. Parmer Pictures ? " The assessee is a partner in two partnership firms, namely, M/s. Parmer Pictures and M/s. Karmandana and others. During the assessment proceedings, the assessee took the stand that he was a partner in the firm, M/s. Karmandana and others, as the karta of his Hindu undivided family and, as such, the share income derived by him from this firm was not assessable 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

.... as income of the Hindu undivided family of the assessee, it is not possible to give a different character to this very income for the assessment years under consideration. It has been contended by Mr. L. N. Rastogi, learned senior counsel for the Department, that, if the capital in the firm, M/s. Karmandana and others which has been inherited by the assessee be treated as self-acquired property of the father of the assessee, then in view of section 8 of the Hindu Succession Act, as interpreted by the Supreme Court in the case of CWT v. Chander Sen [1986] 161 ITR 370, the share income from the firm can be assessed in the hands of the assessee only in the status of individual. I am unable to accept this contention for the simple reason th....