JUDGMENT ORDER
1. The Income Tax Appellate Tribunal, Allahabad has referred the following question of law under section 256(l) of the Income Tax Act, 1961, hereinafter referred to as 'the Act', for opinion to this Court,
1. The Income Tax Appellate Tribunal, Allahabad has referred the following question of law under section 256(l) of the Income Tax Act, 1961, hereinafter referred to as 'the Act', for opinion to this Court, "Whether on the facts and in the circumstances of the case, the profit of Ashok Stationery Mart was assessable in the hands of the assessee in the status of HUF or as individual?"
We have heard Sri Shambhu Chopra, learned Standing counsel appearing for the revenue and Sri S.B.L. Srivastava for the respondent-assessee.
2. The present reference relates to the assessment year 1975-76.
2. The present reference relates to the assessment year 1975-76.
In the aforesaid assessment year the respondent claimed income from the Ashok Stationery Mart and M/s. Narsingh Paper Mart and house property as belonging to HUR However, by way of abundant caution he had declared the same in Part III of the return of income. The Income Tax Officer treated the income from the said firm as belonging to the respondent-assessee in his individual capacity and not that of HUR He, accordingly, included the said income and imposed tax. In appeal the Appellate Assistant Commissioner following the order of the Tribunal for the earlier as6essment year 1974-75 deleted the addition. The revenue's appeal before the Tribunal has failed.
3. It may be mentioned here that this court in ITR No. 174 of 1981 decided on 23-2- 1999, which related to the assessment year 1973 -74 had held that the income of Swadeshi Paper Stores belonging to the HUF and ITR No. 251 of 1981 which related to the assessment year 1976-77, this court vide order dated 23rd February, 1999 answered the questions of law referred to in the aforesaid references in the negative, i.e., in favour of the assessee and against the revenue. The question is the same in the present reference also.
3. It may be mentioned here that this court in ITR No. 174 of 1981 decided on 23-2- 1999, which related to the assessment year 1973 -74 had held that the income of Swadeshi Paper Stores belonging to the HUF and ITR No. 251 of 1981 which related to the assessment year 1976-77, this court vide order dated 23rd February, 1999 answered the questions of law referred to in the aforesaid references in the negative, i.e., in favour of the assessee and against the revenue. The question is the same in the present reference also.
4. Respectfully following the aforesaid decisions, we also answer the question of law referred to us in the negative, i.e., in favour of the assessee and against the revenue.
4. Respectfully following the aforesaid decisions, we also answer the question of law referred to us in the negative, i.e., in favour of the assessee and against the revenue.