TaxTMI 
TaxTMI 
1981 (3) TMI 51
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....come-tax Appellate Tribunal, Bangalore Bench, has referred the following question for the opinion of this court under s. 64(1) of the E.D. Act, 1953 "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the value of the property bearing Municipal No. 2, Artillery Road, Bangalore, held by the nominal owner, viz., the late Smt. Bagirathiammal w....
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....53. They settled down in Bangalore by the end of 1954. He was sending an amount of Rs. 600 per month for the maintenance of his wife and nine children. A house property was purchased on October 29, 1954, for a sum of Rs. 19,000 by Bagirathiammal. Later, the property was further developed. On the death of Bagirathiammal proceedings were instituted under the E.D. Act for bringing the estate of the d....
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....ly a benamidar and the property really belonged to the accountable person on the basis of the following facts; the accountable person was sending a sum of Rs. 600 per month to his wife for maintenance of herself and children through Lloyds Bank Ltd., Rangoon and Calcutta. He remitted a sum of Rs. 25,000 to a joint account in the name of himself and his wife in the Imperial Bank of India, Cuddalore....
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.... taking loan was jointly executed by Bagirathiammal and Sri. Swamy. The first mortgage was on September 27, 1963, for a sum of Rs. 30,000 in favour of Smt. Leila Marathey. A further mortgage was effected on February 15, 1965, by borrowing Rs. 20,000 from the same lady. A further sum of Rs. 20,000 was borrowed from one J. Venkataswamappa on simple mortgage of the same property. Premises No. 2, Arti....