1987 (5) TMI 48 - AT - Income Tax

Summary

The appeal by the revenue against the order of the Appellate Asst. Commissioner deleting the addition of Rs. 16,982 from the total income of the assessee-individual was dismissed by the Appellate Tribunal ITAT Bangalore. The Tribunal held that the funds transferred to the Hindu undivided family by the individual as an outright gift did not attract the provisions of sec. 64, as it was not a conversion of individual property into joint family property. The Tribunal confirmed the order of the Appellate Asst. Commissioner.