9911796707
TMI Blog1997 (11) TMI 34X X X X Extracts X X X X X X X X Extracts X X X X ..... of law under section 256(1) of the Income-tax Act, 1961, for our opinion : "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in holding that the reunion was valid and effective in respect of properties brought into the recreated joint family and, therefore, the interest amount of Rs. 29,700 which accrued on the deposit of Rs. 1 lakh contributed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... each to the Hindu undivided family and declared that the joint family alone would hold the rights in respect of these assets totalling a sum of Rs. 1,00,000. The assessee Rajkumar, as a karta of the Hindu undivided family (specified) in the return filed for the assessment year 1982-83 claimed exemption of a sum of Rs. 14,850 on the ground that the interest earned on the deposit made by him to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ult is that after the decision of this court holding that the reunion is valid, it is not permissible for the Income-tax Officer to include the income arising out of the contribution of Rs. 50,000 made by the assessee in the hands of the specified Hindu undivided family. The income arising out of the contribution of Rs. 50,000 is liable to be included only in the hands of the Hindu undivided famil ..... X X X X Extracts X X X X X X X X Extracts X X X X
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