1991 (9) TMI 57

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....on referred to us under the provisions of the Income-tax Act, 1961 ("the Act" for short), reads thus : "On the facts and in the circumstances of the case, was the Appellate Tribunal right in law in cancelling the order passed by the Commissioner of Income-tax under section 263 ?" The Commissioner of Income-tax invoked the provisions of section 263 and directed the Income-tax Officer to inclu....

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....inor child. This contention of the assessee was accepted by the Appellate Tribunal by following the decision of the Bombay High Court in [1977] 109 ITR 602 (Yogindraprasad N. Mafatlal v. CIT). The question is now settled by a decision of this court also which is CIT v. M. D. Veeranarasimhaiah [1988] 174 ITR 435. It was held by this court that since the income had to be accumulated and the mi....