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2021 (10) TMI 424 - HC - Income TaxIncome in the hands of HUF or members - amount in the name of joint members of HUF - whether when the bank account does not pertain to the HUF and it is only a joint account of two individuals, the same ought not to have been considered as unexplained cash deposit in the hands of the HUF? - HELD THAT:- Contention of the appellant that the Assessing Officer ought not to have assessed to tax the amount of ₹ 71,169/- in the hands of the HUF found in the joint names of Subba Rama Gupta and his wife is totally misconceived as the fact finding authorities have given a categorical finding that the members of HUF had no independent source of income and moreover, the said factual aspect was admitted by the assessee before the Assessing Officer, as recorded by the CIT (Appeals) and the Tribunal. The assessee declaring his income by filing a revised income and offering to tax the amount utilized for the purpose of construction cannot be permitted to contend that the amount in the joint names of two members of the HUF cannot be considered to be the income of the HUF -we do not find any merit in considering the issues which are purely fact related, in appeal proceedings under Section 260A - we answer the substantial questions of law in favour of the Revenue and against the assessee.
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