1987 (11) TMI 147 - AT - Income Tax

Summary

The appeal was against the inclusion of income from three properties in which the assessee had life interest. The assessee surrendered her life interest in these properties through a partition deed and included income from a different property only. The tax department refused to recognize the partition deed due to attachment of properties, but the tribunal ruled in favor of the assessee as the transfer took place before the attachment order. The tribunal set aside the previous orders and remitted the matter back to the ITO for a fresh assessment. The appeal was treated as allowed.