2011 (4) TMI 115

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..... ording to Assessee the H.U.F. paid the tax on that undisclosed income - The assessing authority treated the payment made by the H.U.F. to be the payment on behalf of Assessee - This issue has been considered by the appellate authority as well as by the Income Tax Tribunal - It is clear from the written statement submitted by the Assessee that the H.U.F. which has legal entity, paid the tax on undi .....

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..... . capacity so that it will be taxed either in the individual capacity or in H.U.F. capacity. The Tribunal was of the view that since in the present case H.U.F. offered Rs.37.5 lakhs in its H.U.F. investment and has paid tax thereon and no other investment has been found by the department, except the Gold jewellery of Rs. 17,39,118/- as such the C.I.T. (A) committed error in deleting the addition i .....

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..... pite of the stand of the Assessee, the assessing authority treated the payment made by the H.U.F. to be the payment on behalf of Assessee. This issue has been considered by the appellate authority as well as by the Income Tax Tribunal and they reached to the conclusion that in the facts and circumstances it cannot be treated to be investments made by the individual, in spite of the fact that the k .....

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