HEMCHAND AMARCHAND Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS reference has been made by the Income -tax Appellate Tribunal, Bombay Bench 'A', under section 66(1) of the Indian Income -tax Act, 1922.

(2.) THE assessee is a Hindu undivided family deriving income from property assessable under section 9 of the Act. We are concerned with the assessment year 1958 -59, the previous year being the year ended on 31st March, 1958. For that year, the Income -tax Officer had determined the property income at Rs. 12,320. It appears that, thereafter, the Commissioner exercising his powers under section 33B of the Act cancelled the said assessment and directed fresh assessment to be made. In order to understand the basis for this order and the fresh assessment a few facts may be stated : The Hindu undivided family of the assessee held a piece of land forming part of an estate known as 'Shanti Kunj', situate at 87, Naigam Cross Road, Dadar, Bombay. The said open plot was divided into six smaller portions and these were let out to six different persons under six different indentures of lease. It is the admitted position that these six leases contained identical terms and only one of them between the assessee family and one Dr. Kamat was produced before the Tribunal and has been annexed by it as annexure 'A' to the statement of the case.

(3.) PURSUANT to the directions of the Commissioner, the Income -tax Officer made fresh assessment and determined the property income of the assessee family by adding to the earlier figure of Rs. 12,320 the sum of Rs. 62,740 describing it as 'income received (in kind) by the assessee on April 1, 1957, as a result of getting possession of the six shops as discussed above'.