Madhya Pradesh Court April 1983 Judgments
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Dr. Prakash Tiwari Vs. Commissioner of Income-tax
Court: Madhya Pradesh
Decided on: Apr-05-1983
Reported in: [1984]148ITR474(MP)
Vijayvargiya, J.1. By this reference under Section 256(1) of the I.T. Act, 1961 (hereinafter referred to as ' the Act') the Income-tax Appellate Tribunal, Indore Bench, Indore, has referred the following questions of law for the opinion of this court:' 1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in holding that at the beginning of the assessment year the assessee had savings to the tune of Rs. 15,000 only as against Rs. 25,000 shown by him and that the balance of Rs. 10,000 stands assessable under Section 69B of the Income-tax Act, 1961 ? (2) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in holding that 1/3rd of tne property situated at Dhan Mandi, Ratlam, belonged to the HUF of the assessee as ancestral property and the remaining 2/3rds of the same belonged to him in his individual capacity ' 2. The material facts giving rise to this reference briefly stated are as follows : Whil...
Shantilal Vs. Commissioner of Income-tax
Court: Madhya Pradesh
Decided on: Apr-04-1983
Reported in: [1984]145ITR789(MP)
Sohani, J.1. By this reference under Section 256(1) of the I.T. Act, 1961 (hereinafter referred to as 'the Act'), the Income-tax Appellate Tribunal, Indore Bench, has referred the following questions of law to this court for its opinion :'1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in concluding that the share income or interest income of the minors can be clubbed in the hands of the assessee Under Section 64(1)(iii) notwithstanding that there is no nexus between the admission of minor to the partnership and their subsequent voluntary deposits from time to time in the firm ? 2. Whether, on the facts and in the circumstances of the case, the learned Tribunal was right in holding that although minors' income would be clubbed in the hands of the assessee by the fiction created by Section 64(1)(iii) of the I.T. Act, 1961, yet the advance tax paid by the minors cannot be adjusted towards the tax assessment when the minors' income is below the taxabl...
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