PRAHLAD MALIRAM Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS reference under S. 256(1) of the INCOME TAX ACT, 1961, at the instance of the assessee is to decide the following question of law, namely :

(2.) THE relevant assessment year is 1969 -70. The assessee, Prahlad Maliram, Jaipur, is an HUF. The only question relevant in this reference relates to the justification of the Tribunal's conclusion that the income earned during the relevant period by Temani Trading Co. was includible in the hands of the assessee, Prahlad Maliram. The Tribunal has merely followed the conclusion reached on this point against the assessee relating to some earlier assessment years and following that conclusion, the same has been reiterated for the relevant assessment year as well. The Tribunal has stated that the facts and the circumstances of this year are exactly the same as in the earlier years and, therefore, the view taken in respect of the earlier assessment years must be followed.

(3.) CONSEQUENTLY , the reference is answered in favour of the assessee by holding that the Tribunal was not Justified in treating the income earned in the previous year relevant to the asst. year 1969 - 70 by Temani Trading Co. as includible in the hands of the assessee, Prahlad Maliram, Jaipur. No costs.