9911796707
TMI Blog1979 (7) TMI 25X X X X Extracts X X X X X X X X Extracts X X X X ..... 35 and 258, all of 1976. These are applications under s. 256(2) of the Income-tax Act, 1961, hereinafter called the Act. The material facts giving rise to these applications briefly are as follows: The assessee is an HUF deriving income from money-lending and other sources. In the course of assessment proceedings, certain payments made by the assessee by way of interest were allowed by the ITO. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sallowed. The orders passed by the ITO were affirmed by the AAC on appeal. On further appeal to the Tribunal, the Tribunal upheld the contention of the assessee with regard to the gift made in favour of Smt. Savitribai, but as regards other gifts, the Tribunal held that at the material time when the gifts were alleged to have been made, the property of the HUF was looked after by the guardians who ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as to whether the gifts made by the guardians appointed by the High Court of Jaora were void and whether the subsequent ratification by Bankatlal had any impact on the question of validity of the gifts are undoubtedly questions of law. Similarly, the question as to whether there was material before the Tribunal for coming to the conclusion that the gifts in question were not genuine is also a que ..... X X X X Extracts X X X X X X X X Extracts X X X X
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