BHAWARALAL Vs. ASSISTANT COMMISSIONER OF INCOM TAX

JUDGEMENT

(1.) THESE appeals are by assessees who belong to the same family. Being aggrieved by a common order, they have preferred these separate appeals. As the issues and questions of law that arise for consideration are identical, the appeals are disposed of by this common judgment.

(2.) THE facts as are relevant for consideration of these appeals are as follows : the appellants had, as co-owners of a commercial complex, carried out construction thereof and had declared a total cost of construction in their respective returns of income for the assessment year 1993-94 at Rs. 42,68,642. Whereas the estimation framed by the Departmental Valuation Officer was at Rs. 62,27,795. Therefore, Rs. 19,59,150 was treated as unexplained income, equally in the hands of the three appellants.

(3.) AND further, the appellants had received a sum of Rs. 16,85,000 as co-owners from their tenant who had occupied two shop units separated by a common wall - the above amount was paid as consideration for permitting the tenant to create a opening in the wall for the tenant's convenience. This amount was treated as a revenue receipt and one-third share of each of the appellants was assessed to tax by the department, out of the said amount of rs, 16. 85 lakh (Rs. 5,61,667),