1987 (7) TMI 61

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....se four applications filed by the Commissioner of Income-tax, Agra, under section 256(2) of the Income-tax Act, 1961 (hereinafter referred to as " the Act "), raise common questions which are stated to be questions of law said to be arising out of a consolidated order dated March 24, 1986, passed by the Income-tax Appellate Tribunal, Allahabad Bench, Allahabad, for the assessment years 1978-79 to ....

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....ed family would remain invested in the firm as it was before the partition it was further agreed that after the said partition, the share of profit of the assessee would be one-fourth and the remaining three-fourths would go to the wife and the minor sons of the assessee. Admittedly, this partial partition was duly accepted and recognised by the Income-tax Officer. Consequently, the Income-tax Off....

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....e the Appellate Assistant Commissioner of Income-tax who allowed the same. Thereafter, the Income-tax Officer filed appeals before the Income-tax Appellate Tribunal. On a consideration of the facts of the case and by applying the principles of law as laid down by the Supreme Court in the case of CIT v. Sitaldas Tirathdas [1961] 41 ITR 367, the Tribunal has, by its order dated March 24, 1986, dismi....

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....aid finance agreement, the share income as a whole never reached the assessee. In fact, in the past, it was the Hindu undivided family which was being assessed on the share income. We find that the Tribunal has recorded a finding that the share income as a whole was never assessed on the assessee in his individual capacity even before the partial partition. The Tribunal has further held, on the ad....