1983 (2) TMI 68 - AT - Income Tax

Summary

The revenue's appeal for the asst. yr. 1976-77 against the AAC's deletion of Rs. 29,886 from the assessee's assessment was dismissed by the ITAT Amritsar. The ITO had clubbed income of two daughter-in-laws under s. 64(1)(vi) of the IT Act, but the AAC excluded the amounts based on legal precedents. The ITAT upheld the AAC's decision, stating that the investment by the daughter-in-laws in partnership business did not fall under s. 64(1)(vi). The appeal of the revenue was dismissed.