Allahabad Court February 1981 Judgments
Maqbool Ahmed Lari Vs. Wealth-tax Officer
Court: Income Tax Appellate Tribunal ITAT Allahabad
Decided on: Feb-06-1981
Reported in: (1983)3ITD338(All.)
1. The sole controversy in the present case is whether an addition of Rs. 37,500 to the assessee's returned wealth was justified on the ground that the assessee had earned interest to that extent. The assessee held a fixed deposit receipt of Rs. 8,50,000 against which he had obtained an overdraft of Rs. 6,40,000 from the said bank. Out of it Rs. 3,50,000 were given on loan by him to one Shri P.N. Singh. He derived an income of Rs. 26,250 from him by way of interest, which went to increase the wealth of the assessee correspondingly. The balance amount of loan was kept by the assessee either with himself at home without lending it to anybody or was given over by him to his son without interest. No income, whatsoever, was, admittedly, actually earned on the aforesaid amounts. In the income-tax assessment, the interest paid by the assessee to the bank on such amounts as were kept idle at home or were given to the son without realising any interest from him, were not allowed as legitimate ...
Tag this Judgment!Mohd. Sher Khan and ors. Vs. Shafi Ullah and anr.
Court: Allahabad
Decided on: Feb-03-1981
Reported in: AIR1981All133
V.K. Mehrotra, J.1. This second appeal is by the defendants in a suit which has been decreed by the lower appellate Court for their ejectment from house No. A-6-115 in Mohalla Tarin Jalalnagar, Shahjahanpur and also for recovery from them of mesne profit at the rate of Rs. 7/- per month for a period of three years for use and occupation thereof. The trial Court had decreed the suit for joint possession of the plaintiff over the house along with these appellants.2. The house belonged to Israr Hasan and Anwar Hasan who had 2/3 and 1/3rd share respectively in it. The former migrated to Pakistan and by an order dated August 17, 1950 (Ext-A-1) his 2/3rd share was declared to be evacuee interest under the Administration of Evacuee Property Act, 1950. The case of the plaintiff is that Anwar Hasan also migrated to Pakistan prior to May 7, 1954, and thus even his share in the property became evacuee interest. The case of the appellants however, is that he had not migrated to Pakistan by that ti...
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