Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2005 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2005 (12) TMI 60 - HC - Income Tax"(1) Whether the Tribunal having accepted the correctness of the account books of the appellant-assessee erred in invoking sub-section (2) of section 145 can put its own assessment regarding gross profits on the sale of gold and silver? (2) Whether the Tribunal erred in law in adding the agricultural income of minor son to the income of the appellant-assessee even when section 10 of the Income-tax Act expressly excluded such an income?" - In view of the said clear provisions in section 4 of the Act, Chapter II and section 2 of the Finance (No. 2) Act, 1996, we have no doubt in our mind that the agricultural income of the minor child of an assessee, has to be taken into consideration for the purpose of determining the rate of tax that is applicable to his income. We, accordingly, answer the second question in the negative and hold that the Tribunal did not err in law in coming to the finding that the agricultural income of the minor son of the appellant had to be included in the income of the appellant for the purpose of determining the rate of income-tax applicable to the income of the appellant. In the result, the appeal is partly allowed and the matter is remanded to the Income-tax Appellate Tribunal to decide the issue on the first question of law
|