COMMISSIONER OF INCOME TAX Vs. CHOPRA S P

JUDGEMENT

(1.) THIS reference has been made by the Tribunal (Delhi Bench "A"), arising out of the order of the Tribunal, in Income -tax Appeal No. 2602 of 1974 -75, on the following questions of law: -

(2.) A few relevant facts may, briefly, be noticed. It is not necessary to state the facts in detail as the same appear in the statement of the case sent by the Tribunal.

(3.) LEARNED counsel for the Revenue also referred to a decision of the Rajasthan High Court, S. K. Bohra vs. CIT (1988) 72 CTR (Raj) 209 : (1988) 173 ITR 400 (Raj). The question was examined by the Rajasthan High Court in connection with assessment to wealth -tax. The question in that case was as to what is the nature of the amount of Rs. 1,60,000 which the assessee threw into the common stock of the HUF. Relying on the aforesaid decision of their Lordships of the Supreme Court, it was held that the amount of Rs. 1,60,000 remained the individual property of the assessee till the birth of a son. Hence, the amount was assessable as his individual wealth for the asst. yrs. 1967 -68 and 1968 -69. In that case, a son was born in 1969, so it was observed that the amount was assessable as the wealth of the HUF for the asst. yrs. 1969 -70 to 1971 -72.