COMMISSIONER OF INCOME TAX Vs. MAHENDRAKUMAR MITHARMAL

JUDGEMENT

(1.) THE Tribunal has referred the following question of law for the opinion of this Court :

(2.) THE assessment year with which we are concerned herein is asst. year 1969 70, the previous year being Samvat year 2024.

(3.) ON September 18, 1968, the assessee made a declaration on oath stating that on and w.e.f. September 1, 1968, he had impressed his share in the firm of M/s Damodardas & Co. with the character of joint family property forming part of the joint family property owned by Ramswaroop Kalumal HUF. The assessee, by his letter dated September 27, 1968, informed the concerned ITO that such a declaration was made by him and enclosed with his letter a copy of the said declaration. In the return of income for the assessment year under consideration furnished by the assessee in the status of individual, he specifically stated that the income arising from the share in the concerned partnership firm was not included in the return as a result of his having divested himself of the share in his individual capacity on and w.e.f. September 1, 1968, as recorded in the declaration.