9911796707
TMI Blog1977 (11) TMI 18X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome-tax Act, 1961, hereinafter called " the Act," at the instance of the Addl. CIT, Madhya Pradesh, Bhopal. The Income-tax Appellate Tribunal, Indore, has referred the following question of law to this court for its opinion: "Whether, on the facts and the circumstances of the case, the Tribunal was justified in law in holding that the status of the assessee is that of an HUF in regard to the sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an individual. The ITO did not accept this contention. On appeal, the AAC held that the share income from M/s. Central India Motors was liable to be taxed at the hands of the HUF only from the assessment year 1965-66. Thus for the assessment years 1965-66, 1966-67, 1967-68 and 1968-69 the AAC directed that the share income from M/s. Central India Motors be taxed at the hands of the HUF. Aggrieved ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to the Hindu undivided family of which he was the karta. The Tribunal relied upon the aforesaid declarations and, in these circumstances, learned counsel for the revenue was unable to point out that the Tribunal had erred in law in holding that the status of the assessee was that of a HUF in regard to the share income from M/s.Central India Motors. As that income came to be taxed at the hands o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... intention by the assessee in that behalf. For all these reasons, our conclusion is that on the view taken by the Tribunal about the intention of the assessee to impress the income received from M/s. Central India Motors with the character of joint family property, the Tribunal was justified in law in holding that the status of the assessee is that of a HUF in regard to the share income from M/s. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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