Commissioner of Income Tax vs Balakrishnan Nair

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2005 Supreme(Ker) 798

Commissioner of Income Tax – Appellant
Versus
Balakrishnan Nair – Respondent

JUDGMENT

K.S. Radhakrishnan, J.

1. Petitioners are husband and wife. First petitioner herein was a Professor in Pathology of the Calicut Medical College and was running a proprietary concern by name "Santhosh Clinic". He is an assessee with P.A. No. 46-007-PX-7697. Second petitioner, wife of the first petitioner, retired as a Professor of Dermatology and is a private practitioner and is an assessee with P.A. No. 46-007-PQ-9485.

2. Income Tax Department had received information that one Hamza, Proprietor, Hotel Sagar, Mavoor Road, Calicut had purchased the residential house belonging to the petitioners at Mavoor Road, Calicut for a consideration of Rs. 72 lakhs in the name of his children and the petitioners in turn purchased another residential property at Sathram Road, Calicut belonging to Dr. N. M. Mathai and his son George Mathai for a sum of Rs. 59 lakhs. Enquiry conducted by the investigation wing of the Department revealed that petitioners had sold their residential house with 11.5 cents of land at Mavoor Road for a consideration of Rs. 42 lakhs and in turn purchased the residential house of one Dr. N. M. Mathai and his son for a consideration of Rs. 29 lakhs, but the considerat