1992 (8) TMI 48

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was tight in deleting the share of profit in the firms of M/s. Amrit Chemicals M/s. Star Radio and Electric Co. added by the Income-tax Officer for the assessment year 1971-72 ?" The relevant assessment year is 1971-72. The contention of the assessee is that the assessee had her share in M/s. Amrit Chemicals a .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... own case, for the earlier assessment years 1967-68, 1968-69 and 1969-70, on the construction of the very same declarations, this court has come to the conclusion in the case of CIT v. Nandiniben Narottamdas [1983] 140 ITR 16, that, on a fair and comprehensive reading of the declarations in all their material parts, it was clear that what was gifted was not merely the shares of profits from the fi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X