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HIGH COURT OF GUJARAT
BHARGAV D. KARIA, J,DNR
SULOCHANA V GUPTA – Appellant
Versus
INCOME TAX OFFICER CIRCLE 10 – Respondent
ORDER :
(BHARGAV D. KARIA, J.)
1. This appeal is admitted by order dated 01/05/2009 on the following substantial questions of law:
“(i) Whether in the facts and circumstances of the case, the Income Tax Tribunal has erred in law in holding that income (loss) of a minor son can only be clubbed in the income of the father i.e. Shri Vijay Kumar Gupta and not in the income of the mother i.e. the appellant herein as in the first A.Y., income of a minor son had been clubbed in the hands of father?
(ii)Whether in the facts and circumstances of the case, the Income Tax Appellate Tribunal has erred in interpreting the provisions of the s.64(1A) while holding that income of minor once included in the total income of the either parents will continue to be included in the income of the that very parent, unless the AO is satisfied, after giving that parent an opportunity of being heard, that it is necessary so to do?”
2. The appellant filed return of income for the assessment year 1997-1998 on 29/10/1997 declaring total income of Rs.4,30,556/-.
3. The case of the appellant was selected for scrutiny. As the appellant claimed set-off of loss of minor son amounting to Rs.7,55,041/-, the same was subject
The income of a minor child can be clubbed in the income of either parent based on previous assessments, and the Tribunal erred in restricting it to the father only.
If this income were to be taxed only after the 2nd respondent attains majority, financial burden on the 2nd petitioner when she attains age of majority will be huge.
The taxability of income from re-invested assets retains the asset's character for assessments under the Agricultural Income Tax Act.
Income from shares held by spouse and minors is not assessable to the husband under Section 16(3) if not directly arising from transferred assets.
The main legal point established is that the amount obtained under Section 41(1) of the Income Tax Act should be the actual amount obtained by the assessee exclusive of the tax paid and not refunded,....
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