COMMISSIONER OF INCOME TAX Vs. NANDINIBEN NAROTTAMDAS

JUDGEMENT

(1.) THE question referred for our opinion under section 256(1) of the Income -tax Act is as under :

(2.) THE relevant assessment year is 1971 -72. The contention of the assessee is that the assessee had her share in M/s. Amrit Chemicals and M/s. Star Radio and Electric Co. The share in M/s. Amrit Chemicals was claimed to have been gifted by her to a trust named Panna Pratiksha Mamta Trust by a declaration dated December 16, 1964, and the share from M/s. Star Radio and Electric Co. was claimed to have been gifted by her to the said trust by a declaration dated May 4, 1967. For the assessment year in question, namely, 1971 -72, the Income -tax Officer sought to include the share income of the assessee in these two firms in her income. That was taken in appeal by the assessee in appeal wherein she succeeded. The Revenue carried the matter in second appeal to the Tribunal and failed and that is how the question arising out of the judgment and appeal has been got referred by the Tribunal for our opinion.

(3.) ON the very same reasoning, on absolutely identical facts, the question referred to us for our opinion has to be answered in the affirmative, in favour of the assessee and against the Revenue. The reference stands disposed of. No costs.