At, High Court of Judicature at Madras
By, THE HONOURABLE CHIEF JUSTICE MR. M. N. CHANDURKAR & THE HONOURABLE MR. JUSTICE SRINIVASAN
Judgment Text
M. N. CHANDURKAR C. J.
The question referred in this reference at the instance of the Revenue is as follows.
"Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the inclusion and assessment of the share income of the minor sons of the assessee from M. S. P. V. Pugalagiri in his individual hands in terms of section 64(1)(iii) was not proper on the ground that the assessee was not a partner in that firm in his individual capacity but was only representing the Hindu undivided family headed by him ?" *
Both learned counsel for the Revenue and the assessee agree that the question referred has to be answered in the negative and in favour of the Revenue having regard to the decision in CIT v. S. Balasubramaniam 1984 (147) ITR 732, 1984 (17) TAXMAN 398 (Mad).
Accordingly
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, the question referred is answered in the negative and in favour of the Revenue no order as to costs.
