9911796707
TMI Blog2001 (1) TMI 26X X X X Extracts X X X X X X X X Extracts X X X X ..... the sense that they relate to the same assessee and the dispute revolves round the allowability of interest to the Hindu undivided family (for short "the HUF"), of the assessee. The references have been made under section 256(1) of the Income-tax Act, 1961 (in short "the Act"). So far as the assessment years 1971-72, 1972-73 (I. T. R. Nos. 187-88 of 1981) and 1973-74 (I. T. R. No. 148 of 1981) are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i B. N. Chadha, his son could not have constituted a Hindu undivided family, that is not an acceptable stand because on or before December 31, 1969, an individual could impress his individual property with the characteristic of a Hindu undivided family by the act of blending. As is fairly well settled, no specific or particular mode of blending is provided for in the statute. That being the situat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest. In view of our conclusions for the earlier three years, the question referred is not answered. So far as the assessee's reference (I. T. R. No. 304 of 1981) is concerned it relates to the rate of interest. What would be the appropriate rate of interest is essentially a factual aspect giving rise to no question of law. We, therefore, decline to answer the question which has been referred ..... X X X X Extracts X X X X X X X X Extracts X X X X
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