2004 (10) TMI 63

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..... d the following question of law under section 256(1) of the Income-tax Act, 1961, hereinafter referred to as "the Act", for opinion to this court: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in deleting an addition of Rs. 1,54,236 from the income of the assessee-Hindu undivided family?" Briefly stated the facts giving rise to the present reference are .....

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..... d family, admitted that these ornaments belonged to him. Subsequently, in respect of some of the ornaments which were found in flask and jug, he denied his ownership. The Income-tax Officer treated the ornaments as belonging to the Hindu undivided family, the assessee at the hands of the respondent which was confirmed by the Commissioner of Income-tax (Appeals). However, in appeal before the Tribu .....

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