M P PERIA KARUPPAN CHETTIAR M R M RAMASWAMI CHETTIAR Vs. COMMISSIONER OF INCOME TAX WEALTH TAX GIFT TAX MADRAS:COMMISSIONER OF INCOME TAX WEALTH TAX GIFT TAX MADRAS

JUDGEMENT

(1.) The point for consideration is the same in these two sets of appeals brought on certificate granted by the High Court of Madras. M.P. Peria Karuppan Chettiar, appellant in Civil Appeals Nos. 1090 1092 of 1970, is a brother of M. R. M. Ramaswami Chettiar, appellant m Civil Appeals Nos. 1093 and 1094 of 1970. The appeals preferred by M. P. Peria Karuppan Chettiar anise out of a reference under S. 66 (1) of the Indian Income Tax Act, 1922, Section 27 (I) of the Wealth-tax Act, 1957, and Section 26 (1) of the Gift Tax Act, 1958 made at the instance of the Commissioner of Income tax, Wealth Tax, and Gift Tax, Madras, for determination of the following questions:-

(2.) Whether on the facts and in the circumstances of the case, the sum of Rupees 1,60,000/- transferred to the account of Muthukaruppan and Palaniappan (sons of Peria Karuppan Chettiar) in the previous year ending on 13-4-1958 was liable to assessment under the Gift Tax Act The reference under the Income Tax Act relates to the assessment year l959-60, under the Wealth Tax Act to the assessment year 1957-58, the valuation date being April 12, 1857, and under the Gift Tax Act to the assessment year 1958-59.

(3.) Also in the wealth-tax proceedings for the assessment year 1957-58, valuation date being April 12, 1957, Periakaruppan claimed the status of a Hindu Undivided Family. The Wealth-tax Officer rejected the claim.