COMMISSIONER OF INCOME TAX Vs. BIKANER WOOLLEN PRESS

JUDGEMENT

(1.) THIS is a reference under s. 256(1) of the IT Act, 1961 at the instance of the Revenue to answer the following question of law namely :

(2.) THE relevant assessment years are 1975-76 to 77-78. THE point involved for decision is the same as in IT Ref. No. 12 of 1982 since reported as CIT vs. M. M. Jain, 1988 72 CTR 55 (Raj) . We have stated therein that it is a settled principle of law that even the self-acquired property of the father dying intestate coming to the son is to be treated as ancestral property in the hands of the son. Accordingly, the Tribunals view taken in favour of the assessee is justified.