COMMISSIONER OF INCOME TAX Vs. RAMGOPAL MODY

JUDGEMENT

(1.) : The following question has been referred by the Tribunal under S. 256(1) of the IT Act, 1961 (`the Act') for the opinion of this Court:-- "Whether, on the facts and in the circumstances of the case, and on proper construction of S. 4 of the Indian Partnership Act, 1932, S. 2(23) and S. 64 of the IT Act, 1961, the share of profits arising in the hands of the wife of the assessee in the firm Bajranglal Ram Gopal & Co., is not properly includible in the assessment of the assessee-individual under S. 64(1) of the IT Act, 1961?"

(2.) THE assessee claimed that the income of the wife from the firm cannot be included in the computation of the assessee's income. THE ITO on the reasons recorded by him, declined to agree with the assessee.

(3.) HEARD Mr. D. K. Talukdar, the learned counsel appearing for the Revenue and Mr. S.K. Kejriwal, the learned counsel appearing on behalf of the assessee.