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Documents citing Surajratan Damani vs Commissioner Of Income-Tax, Bombay ... on 16 August, 1974

M.L. Shukla And Co. vs Income-Tax Officer on 13 January, 1983

In the case of Surajratan Damani (supra), he had made a gift of 7½ per cent of the managing agency commission from a company. It was held that on a plain reading of the operative part of the gift deed, its effect was to transfer the source of income to the daughters before the income had accrued or had arisen to the assessee in a particular year. It was held that as the source of income was really transferred to the daughters before the income had accrued in any of the accounting year, such income could not be regarded as the income of the assessee for any of the relevant assessment years. Similar findings were given in the other two cases.
Income Tax Appellate Tribunal - Allahabad Cites 21 - Cited by 3 - Full Document

Commissioner Of Income-Tax, Bombay ... vs Kanchanlal L. Talsania on 22 September, 1981

11. A reference in that contention may be made to the decision of this court in the case of Surajratan Damani v. CIT [1977] 106 ITR 576, relied upon by the learned counsel for the assessee. In that case the assessee and his brother had entered into an agreement with a company, F, whereunder the assessee was entitled to receive from F-company 7 1/2% of the managing agency commission receivable by F, from another company S. F-company was the managing agency company of company S. On October 20, 1955, the assessee executed a gift deed in favour of his two daughters, K and SS, transferring his right to receive a share in the managing agency commission. The said gift deed provided, inter alia :
Bombay High Court Cites 3 - Cited by 2 - Full Document
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