9911796707
TMI Blog2006 (2) TMI 124X X X X Extracts X X X X X X X X Extracts X X X X ..... hich the firm was assessed being the financial year, the share income of the assessee as a partner in the firm was required to be assessed with reference to the calendar year as the "previous year". - references are answered in favour of the Revenue and against the assessee. - - - - - Dated:- 21-2-2006 - Judge(s) : P. D. DINAKARAN., P. P. S. JANARTHANA RAJA. JUDGMENT The judgment of the court was delivered by P.D. Dinakaran J.-Pursuant to the directions of this court dated July 28, 1997 in T.C.P. Nos. 601 to 618 of 1996, the Appellate Tribunal has stated the case and referred to us the following questions of law: "(i) Whether on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in holding tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the previous year ending 31st March, falling within the calendar year, which is the previous year under consideration of the assessee, that should be brought to tax and directed the Income-tax Officer to recompute the income accordingly. Hence, these references by the Revenue. Learned senior standing counsel for the Revenue submits that this court, in the assessee's own case for the assessment years 1982-83 to 1984-85, in CIT v. Greenham Estates P. Ltd. [2002] 254 ITR 402, answered the questions of law raised in favour of the Revenue. This court in CIT v. Greenham Estates P. Ltd. [2002] 254 ITR 402, after taking note of the plain words used in section 3(1)(f) of the Income-tax Act, as it stood, during the assessment years 1982-83 to 19 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r control section 3(1)(f) which deals with one type of income and fixes the previous year in respect of that income alone." It is accordingly settled law that for the purpose of assessment of share income of the assessee, the previous year followed by the firm should alone be followed by the assessee, who is a partner of the said firm, and the said proposition is not applicable to other income of the assessee. Applying the ratio laid down by this court in CIT v. Greenham Estates P. Ltd. [2002] 254 ITR 402 to the facts and circumstances of this case, we hold that the Tribunal was not right in holding that notwithstanding the previous year with reference to which the firm was assessed being the financial year, the share income of the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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