ALPANA CHINAI Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) THIS Tax Appeal is filed by the appellant/assessee under section 260-A of Income Tax Act, 1961 relating to Assessment Year 86-87.

(2.) ACCORDING to the assessee, the following substantial questions of law do arise out of the order of the Tribunal. They are:

(3.) THE assessee in an individual belonging to the Piramal family ('piramal group' for short ). The said Piramal Group consisted of 6 family members including the petitioner. The Piramal Group had controlling interest in the company M/s. Piramal Rasayan Limited as they were holding 2,70,600 equity shares out of 7,40,000 equity shares of the company. Out of 2,70,600 equity shares held by the Piramal group, 81,150 shares belonged to the Assessee.