The Tax Publishers2021 TaxPub(DT) 0269 (Pat-HC) : (2021) 430 ITR 0046 : (2021) 277 TAXMAN 0527

IN THE PATNA HIGH COURT

SANJAY KAROL C. J. & S. KUMAR J.

Alok Goenka v. CIT

Tax Case No. 126 of 1982

A.Y. 1976-77

6 November, 2020

Petitioner by: D.V. Pathy, Advocate

Respondent by: Rishi Raj Sinha and Shilpi Keshri, Advocates

JUDGMENT

Sanjay Karol C.J.

The Income Tax Appellate Tribunal, Patna Bench, Patna has made the instant reference under section 256(1) of the Income Tax Act, 1961 on the following substantial question of law :---

'Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in holding that the share income of the two minor sons of the assessee, namely, Shri Alok Kumar Goenka and Shri Atul Kumar Goenka including the interest to the extent of Rs. 38,944 was assessable in the hands of the assessee their father Shri Loknath Goenka in the assessment year 1976-77 under section 64(1)(iii) of the Income Tax Act 1961, as amended by the Taxation Laws (Amendment) Act, 1975, with effect from 1-4-1976 when the accounting year of the firm ended on 31-12-1975?'

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