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1 - 10 of 48 (0.37 seconds)Section 153A in The Income Tax Act, 1961 [Entire Act]
Section 22 in The Income Tax Act, 1961 [Entire Act]
The Wealth-Tax Act, 1957
Section 68 in The Income Tax Act, 1961 [Entire Act]
Section 132 in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Commissioner Of Income-Tax, Gujarat vs Rasiklal Balabhai on 12 October, 1978
In this regard, assessee has also relied on certain cases like CIT vs.
Rasiklal Balabhai and H.S. Singhal cases & sons (supra) which are relating
to running of partnership firm by the beneficiary representing as partner of
that firm and also representing the Karta of the family as a partner in the
partnership firm. These facts are distinguishable to the facts in the present
case. Trust and beneficiary are two different entities under the Act. From
the facts on record, the beneficiary has run the business in his individual
capacity utilised the property of the trust which is a distinct person under the
Act. Therefore, the assessee should have declared the Income from House
Property during this period.