1988 (11) TMI 89

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....G. C. J. -By this reference under section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), the Income-tax Appellate Tribunal, Jabalpur Bench, Jabalpur, has referred the following question of law to this court for its opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal was correct in holding that the provisions of section 64(1)(vi) were n....

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....t includible in the income of the assessee under section 64(1) of the Act was rejected by the Income-tax Officer who held that the said income was includible in the total income of the assessee under the provisions of clause (vi) of section 64(1) of the Act. Aggrieved by the order passed by the Income-tax Officer, the assessee preferred an appeal which was dismissed. On further appeal before the T....

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....92 ITR 130, the Calcutta High Court held, following the decision of the Supreme Court in CIT v. Prem Bhai Parekh [1970] 77 ITR 27, that when income was received by a person as a result of Admission to the benefits of the partnership, then such income arises primarily because of the participation by that person as a partner and not as consequence of investing the gift made in favour of that person ....