1989 (10) TMI 26

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ed by A. L. BAHRI J. -The Income-tax Tribunal, vide order dated July 27, 1985, has referred the following question for the opinion of this court under section 256 (1) of the Income-tax Act: "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is correct in law in holding that the income from the property known as 'Amritsar Cotton Mills' should be excluded from ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ed family of Sobha Singh Harbhajan Singh. (2) Jairam Singh-five annas share representing the Hindu undivided family of Sobha Singh Jairam Singh. (3) Kirpal Singh-three annas share in individual capacity. (4) Joginder Singh three annas share in individual capacity. In 1954, there was some change in the partnership. Mohan Singh, son of Jairam Singh, was inducted as a partner. The profit ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r partners requiring any deed to be executed or registered. There was distribution of the cash amount as well as the building value. The Department did not raise any dispute regarding the distribution of the cash amount. However, regarding the share of the building, the dispute was raised. The amount of the share of the building was being included in the return of the assessee which, according to ....