The main legal point established in the judgment is the interpretation and application of Section 64(2) of the Income-tax Act, 1961 in individual assessments.

Headnote:
Income-tax Act - Individual Assessment - Inclusion of Share of Profit and Interest in Individual Assessment
Fact of the Case:

The court was asked to determine whether the amount of Rs. 21,302 from the share of profit and interest received by the Hindu undivided family of the assessee was liable to be included in the individual assessment of the assessee under Section 64(2) of the Income-tax Act, 1961.
Finding of the Court:

The court, considering a similar question in a previous case, answered in the affirmative, in favor of the Revenue and against the assessee.
Issues: The main issue was the inclusion of the amount from the share of profit and interest in the individual assessment of the assessee.
Ratio Decidendi: The court's decision was influenced by the interpretation of Section 64(2) of the Income-tax Act, 1961, and the precedent set in a similar case.
Final Decision: The court ruled in favor of the Revenue and against the assessee, holding that the amount was liable to be included in the individual assessment.

Judgment

S.S.Sodhi, J.

1. The question of law referred for the opinion of this court is as under :

"Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the amount of Rs. 21,302 out of share of profit and interest received by the Hindu undivided family of the assessee from Amritsar Brick Kiln Co. was liable to be included in the individual assessment of the assessee under Section 64(2) of the Income-tax Act, 1961 ?"

2. A similar question came up for consideration before this court in Income-tax Reference No. 25 of 1980 (Amrit Lal v. CIT [1989] 179 ITR 105 (P & H)) decided today, that is, December 2, 1988. For the reasons recorded therein, this reference too is answered in the affirmative, in favour of the Revenue and against the assessee. There will be no order as to costs.

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Judicial Analysis

1988 Supreme(P&H) 652

PUNJAB & HARYANA HIGH COURTS.S.Sodhi|Gokal Chand Mital and S.S.Sodhi JJ.Roshan LalVersusCommissioner Of Income-taxIncome tax Reference No. 157 of 1980,Decided On : DECEMBER 2, 1988

The main legal point established in the judgment is the interpretation and application of Section 64(2) of the Income-tax Act, 1961 in individual assessments.

Cases Referred (1)

Judicial Analysis

PUNJAB & HARYANA HIGH COURT
S.S.Sodhi|Gokal Chand Mital and S.S.Sodhi JJ.
Roshan Lal
Versus
Commissioner Of Income-tax
Income tax Reference No. 157 of 1980,
Decided On : DECEMBER 2, 1988