9911796707
TMI Blog2002 (8) TMI 10X X X X Extracts X X X X X X X X Extracts X X X X ..... of law, arising out of the order dated January 28, 1988, passed by the Income-tax Appellate Tribunal, Ahmedabad Bench "C", in I.T.A. No. 563/Ahd of 1986, has been referred to this court for its opinion under the provisions of section 256(2) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"): "Whether the Appellate Tribunal is right in law in holding that the income earned from the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Keshrimal Family Trust. It is pertinent to note that the income, which the assessee had received, had in fact gone to the beneficiaries and the beneficiaries were also assessed in respect of the said income. Being aggrieved by the order passed in appeal by the Appellate Assistant Commissioner, the Revenue had filed an appeal before the Tribunal. The Tribunal was pleased to dismiss the appeal. In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es, it could not have been said to be the income of the assessee. In the circumstances, the Assessing Officer was not right in holding that the share of income received by the assessee from M/s. Darshan Traders was income of the assessee especially when M/s. Darshan Traders was a firm duly registered and the said firm had also been assessed. It is also pertinent to note that there was no dispute w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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