COMMISSIONER OF INCOME-TAX Vs. GHANSHAM DASS MUKIM

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal, Chandigarh Bench, has referred the following questions of law for our opinion :

(2.) THE assessee is an individual having, according to his return, share income from three partnership firms, two namely, M/s. Rameshwar Dass Ram Saran Dass and M/s. Kirori Mal Devi Sahai, carrying on business at Delhi, and one, namely, M/s. Bharat Metal Industries, carrying on business at Bhiwani. The assessee's share in the said three firm's profits was 17%, 25% and 15%, respectively. The relevant previous years, as contemplated under Section 3 (1) (f) of the I. T. Act (hereinafter referred to as "the Act"), ended on March 31, 1969, and March 31, 1970, respectively, in respect of the said sources of income. The assessment was completed by the ITO on January 24, 1970, at a total income of Rs. 28,363 as against the income of Rs. 18,913 returned by the assessee for the assessment year 1969-70, and at a total income of Rs. 69,260 for the assessment year 1970-71, in the status of an individual. The assessee was also a partner in a fourth firm, namely, M/s. Rameshwar Dass Hari Shankar, which was carrying on business at Ahmedabad. In the profits of the said fourth firm, the assessee's sjiare was 25%.

(3.) ON appeal, the AAC excluded the amounts of Rs. 3,542 and Rs. 31,765 from the assessee's taxable income for the assessment years under consideration.