MOHINI THAPAR (DEAD) BY L. RS. versus C.I.T. (CENTRAL) CALCUTTA & ORS.

MOHINI THAPAR (DEAD) BY L. RS. versus C.I.T. (CENTRAL) CALCUTTA & ORS.

Income on investments or shares purchased by the assessee's wife from cash gifted by the assessee is income arising indirectly from assets transferred directly by the assessee, and must therefore be included in the assessee’s total income under section 16(3)(a)(iii) of the Income-tax Act, 1922.

Parties
Appellant: Moidni Thapar (Dead) by L.Rs.; Respondent: C.I.T. (Central) Calcutta; Respondents: Ors.
Jurisdiction
India
Judgment Date
23 September 1971
Procedural Posture
Civil Appeal / Appeal From Calcutta High Court Judgment on Income Tax Reference
Outcome
Appeals dismissed.
Legal Topics
Income Tax Assessment, Deeming Provisions, Attribution of Income
Tax Law Income Tax Assessment Deeming Provisions Attribution of Income

Case Brief

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Parties

Moidni Thapar (Dead) by L.Rs.

Appellant

C.I.T. (Central) Calcutta

Respondent

Ors.

Respondents

Procedural Posture

Civil Appeal / Appeal From Calcutta High Court Judgment on Income Tax Reference

Legal Issues

  1. 1 Whether income from investments and shares purchased by assessee's wife out of cash gifted by the assessee is liable to be included in assessee's income under section 16(3)(a)(iii) of the Income-tax Act, 1922

Ratio Decidendi

Income on investments or shares purchased by the assessee's wife from cash gifted by the assessee is income arising indirectly from assets transferred directly by the assessee, and must therefore be included in the assessee’s total income under section 16(3)(a)(iii) of the Income-tax Act, 1922.

Court Disposition

Appeals dismissed.

Orders

  • Appeals fail and are dismissed with costs. Costs one set.