CIT-II Vs. B JAYALAKSHMI

JUDGEMENT

(1.) These appeals are filed by the revenue against the order of the Income Tax Appellate Tribunal, "A" Bench, Chennai in ITA Nos. 1508,1509 & 1510/Mds /2003, dated 12-7-2004 raising the following common substantial questions of law:

(2.) The facts leading to the above substantial questions of law are as under:

(3.) Learned standing counsel appearing for the revenue submitted that the minor children had no independent source of income to form the corpus for the money-lending activities and bank deposits. Hence, the Assessing Officer is justified in clubbing the income of the assessee's minor daughters to the income of the assessee.