2007 (3) TMI 143

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..... the assessee is an individual deriving income from 13 AOPs as a member. For the assessment year 1983-84, the appellant derived Rs. 60,853 as share from 13 AOPs. She was having 1/3rd share in all these AOPs. The AOPs were beneficiaries of M/s. Chengamma Family Foundations, which is a private specific trust. 99 per cent. of the total income of the association of persons was shared equally among memb .....

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..... es of the case, the Tribunal is correct in holding that the assessee was not eligible for relief under section 86(v) as a member of the AOPs in respect of the specific portion of income of the AOPs on the ground that the said portion being below the taxable limit had not suffered tax in the hands of the AOPs." 2 Sri Shankar, learned counsel appears for the assessee. He would reiterate the facts a .....

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..... has been provided the partial benefits under section 86(v) of the Act. The assessee wants section 86(v) to be considered thereby he gets the entire benefits on the facts of this case. Section 167A would deal with association of persons—special cases. 5 Section 86(v) would read as under : "Income-tax shall not be payable by an assessee if the assessee is a member of an association of persons, or .....

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..... dings "any portion" and the wordings "in which income-tax has already been paid by the association" would evidence that the benefit is available only to that portion which has suffered tax and not for the whole amount. In fact, the Tribunal has chosen to consider this in its order. We are in agreement with the said findings of the Tribunal. Any other interpretation would result in reading much mor .....

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..... share income from the association of persons includible in the assessee's hands as a member thereof is to be determined only after deducting from the association of persons income-tax payable by it ? 8 It was in the context of that question, the Bombay High Court has considered section 86. The said judgment is clearly distinguishable on the r 9 In the result, we answer the question in favour of .....

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