1984 (2) TMI 87

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....ndent (assessee) has not been served in this reference. It appears that the notice of the reference was prepared and lodged with the sheriff for service, but there is nothing further to show whether the service has been effected on the respondent. Normally, we would not have proceeded to hear the reference on merits. However, we do so, as it is conceded by Mr. Joshi that the questions raised in th....

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....s was unjustified ? " The assessee is a firm of six partners. The assessment year with which we are concerned is the assessment year 1963-64. In the course of assessment of the income of the assessee in the assessment year 1963-64, the ITO found that in the relevant previous year, several partners of the assessee had made gifts to their respective wives, minor children and grandchildren. The de....

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....e the necessary entries in his account books on that date. Subsequently, he instructed the joint family firm which acted as his banker and with which he had an account to debit him with the two sums and interest earned up to that date and credit the accounts of the son and daughter with the corresponding amounts. These instructions were carried out by the firm which submitted a voucher which the a....