9911796707
TMI Blog2012 (9) TMI 403X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee would be entitled to 50 % of the share and, therefore, the directions given by the CIT(A) to the AO to consider 50 % of the interest amount in the hands of the assessee as her undisclosed income for the block period, cannot be faulted. Thus the Tribunal has rightly placed reliance upon Section 5A of the Act and Articles 1122 and 1123 of Portuguese Family Civil Law which is in force in the State of Goa and dismissed the appeal preferred by the revenue against the order passed by the CIT(A) - submission made on behalf of the revenue that the assessment ought to have been on the basis of the body of individuals is totally misplaced - against revenue. - Tax Appeal No. 77/2006 - - - Dated:- 30-8-2012 - A P Lavande And U V Bakre, JJ. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... up. The daughter of the assessee was married to one of the sons of Gosalia Group. During the search, papers including FDRs were found and the same were in the name of assessee. Therefore, the Assessment Officer brought the entire interest income earned on the said FDRs to tax in the hands of assessee. The assessee also disclosed another income in the block return for a sum of Rs.3,79,434/-, the interest income from FDRs was Rs.32,54,905/-. The Assessment Officer made an addition of Rs.36,34,339/- being the income from undisclosed sources during the block period in the hands of the assessee. The order passed by the Assessment Officer was challenged by the assessee by filing appeal to the CIT(A). 5. The CIT(A) partly allowed the appeal file ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that the department would be at liberty to assess the income in the hands of legal heirs accrued as per Section 5A of the Act. Insofar as TDS is concerned, the ITAT held that there was nothing wrong on the part of the bank for deducting TDS on the entire income and the successors would be at liberty to claim set off in so far as TDS already deducted on their shares of income are concerned as per law. Consequently, the ITAT did not find any infirmity in the order passed by the CIT(A) and dismissed the appeal. 10. The appeal was admitted on the following substantial question of law : (i) Whether in law and in the facts and in the circumstances of the case, ITAT, is justified in holding that 50 % of the share of the deceased husband will ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nnot be faulted. She placed reliance upon the judgment of this Court in the case of Commissioner of Income Tax Vs. Shri and Smt. Jose Filipe Alvares; (1995) 211 ITR 1027 (Bom.) . 13. We have carefully considered the rival submissions, perused the record and the judgment relied upon. 14. The CIT(A) as well as the ITAT have held that in terms of Section 5A of the Act which was brought into force in the year 1994 with retrospective effect from 01/04/1963, the assessee and her husband were governed by the system of Community of Assets ('COMMUNIAO DOS BENS') which is in force in the State of Goa. The ITAT held that after the death of husband of the assessee, only 50 % of the share in the FDRs would pass on to three sons and one daughter and ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
