9911796707
TMI Blog1985 (11) TMI 7X X X X Extracts X X X X X X X X Extracts X X X X ..... ed dated October 27, 1970 ?" It may be mentioned that the assessee had applied for reference of three questions in the application under section 256(1) of the Act, out of which the question referred was question No. 1 only. While referring question No. 1 alone under section 256(1) of the Act, the Tribunal did not refer the remaining two questions. We are, therefore, concerned with the decision, in this reference, of the only question referred to us by the Tribunal. The material facts are these. The assessee is a lawyer practising at Jabalpur. A flat was purchased at Bombay in the name of the assessee's wife in the year 1962-63. In the gift deed dated October 26, 1970, executed by the assessee in favour of his wife, it was stated that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... " As already stated, it is only question No. 1 which has been referred by the Tribunal under section 256(1) of the Act while refusing to refer the remaining two questions. An application (I.A. No. 4900 of 1985) dated July 19, 1985, has been made by the assessee for reframing the question referred to this court as under: " Whether the amount of interest of Rs. 1,260 earned by the assessee's wife on the deposits made by her out of the income earned from the house property in Bombay could legally be clubbed in the income of the assessee ? " The first question, therefore, for our decision is whether this prayer made in the application of the assessee can be granted by us : In our opinion, the application, I.A. No. 4900 of 1985, ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... question and the assessee having a right to apply under section 256(2) of the Act has failed to do so. This application is, therefore, rejected. We shall now consider the question which has been referred to us for decision. The question is whether the Tribunal was justified in its conclusion that the assessee made a cash gift of Rs. 50,000 and not gift of the property purchased out of it by virtue of the gift deed dated October 26, 1970. Learned counsel for the assessee states that the assessee does not require a decision of the question in the present case, in view of our conclusion that the application, I.A. No. 4900 of 1985, cannot be allowed. It is, therefore, not necessary to answer this question and for that reason we decline to an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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