1982 (1) TMI 26

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....HAND JAIN J.-The assessee is an HUF (hereinafter referred to as "the assessee "). The assessment year commenced on I St April, 1971. The financial year was the "previous year". The assessee derived, (i) share income from the firm, M/s. Khazan Singh Basant Singh, (ii) interest income from M/s. Basant Singh and Sons'. (iii) dividend income, and (iv) bank interest. The assessment was completed by the....

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....ging to the wife of the karta, the Tribunal held that this amount, on partition, came to belong to her and she being a female member, could not even have thrown this amount into the hotchpot of the assessee. Consequently, all the four amounts were held not to belong to the assessee. On an application made by the Commissioner, the Tribunal has referred the following questions for our decision : ....

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.... for the petitioner, very fairly conceded that the decision of the Tribunal was correct and that the income earned on the amount falling to the share of Smt. Ram Piari at the time of the partition on 31st March, 1958, was not includible in the income of the assessee. Consequently, this petition is answered against the Revenue and in favour of the assessee. So far as the first question is concer....