1973 (5) TMI 21

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..... nd not his individual income ? " - - - - - Dated:- 18-5-1973 - Judge(s) : R. L. GULATI., C. S. P. SINGH. JUDGMENT The judgment of the court was delivered by GULATI J.-This is a reference under section 256(1) of the Income-tax Act, 1961, seeking the opinion of this court on the following question : "Whether the Tribunal, on the facts and in the circumstances of the case, was right in ho .....

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..... family and not of the assessee on the ground that the shares which qualified him to become a director were acquired out of the joint family funds. Now a question like this is not a pure question of law but a mixed question of fact and law. The fact that the assessee acquired the shares which qualified him to become a director out of the joint family funds is not decisive nor is the fact decisive t .....

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