1988 (12) TMI 57

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....ODHI J.-The matter here pertains to the assessment year 1976-77. On October 13, 1970, the assessee, Shri Amrit Lal, as karta of the Hindu undivided family consisting of himself, his wife and two minor sons impressed his separate funds to the extent of Rs. 31,226 with the character of Hindu undivided family funds. Later, with effect from October 13, 1970, he became a partner of a firm, Amritsar ....

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....ust be deemed to arise to the individual and not to the family. It was in this background that the following question of law was referred to this court for its opinion: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the entire profit and interest from Amritsar Brick Kiln Co. received by the Hindu undivided family in the assessment y....

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....tion 64(2)(b) of the Act, rejected the contention of the assessee, that the interest in relation to the sum of Rs. 30,000 which worked out to Rs. 3,346 alone was attributable to the converted property and the rest of the income should be assessed as that of the Hindu undivided family, and held that the entire income that came to the share of the assessee was his personal income and assessable in h....