1997 (2) TMI 50

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ) of the Income-tax Act, 1961, has referred the following common question of law for the assessment years 1976-77 to 1978-79 for the opinion of this court; "Whether, on the facts and in the circumstances of the case, the Tribunal's view that the income from the property known as 'Kannammai Building' is not includible in the assessments of the assessee-firm for the assessment years 1976-77 to 197 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... before the Appellate Tribunal and the Appellate Tribunal, following the earlier case in the assessee's own case in ITA No. 1673 (MDS)/1976-77 dated September 30, 1977, for assessment year 1973-74, held that there was a valid transfer and the income from the property known as "Kannammai Building" cannot be included in the hands of the assessee. The order of the Appellate Tribunal is the subject-ma .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... any rate a deed of mutual release. Any such instrument, whether it be a regular deed of partition or a release deed, must be duly stamped as contemplated under the Indian Stamp Act, if the value thereof is over Rs. 100." In this case, the firm is a continuing firm and not a dissolved firm and without a registered deed or by any other manner known to law it is not possible for the assessee-firm t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X