Supreme Court · 1963 INSC 71 · Decided 26 March 1963
Commissioner of Income-Tax, Madras v. C. M. Kothari, Madras (Dead), and After Him His Legal Representative
- Court
- Supreme Court of India
- Citation
- 1963 INSC 71 · [1964] 2 S.C.R. 531
- Case number
- CIVIL APPEAL No. 34/1962
- Decided
- 26 March 1963
- Bench
- S.K. DAS, A.K. SARKAR, M. HIDAYATULLAH (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 16(3)(a)(iii), 66(1)
Headnote
· sui>R:E~E cbu1tr REPo:Rts 531 COMMISSIONER OF INCOME-TAX, MADRAS v. C. M. KOTHARI, MADRAS (DEAD), AND AFTER HIM HIS LEGAL REPRESENT A TI VE (S. K. DAS, A. K. SARKAR and M. HIDAYATULLAH JJ.) Income '!'ax-Income from property in the name of wife-,­ Money coming into the haw• 16 (3) (a) (iii).· Messrs Kothari and Sons is a firm of stock brokers. The firm consisted of Shri C. M. Kothari and his two sons, Shri D. C. Kothari and Shri H. C. Kothari. The firm entered into an agreement for the purchase of a house and the earnest money was paid by it. Later on,
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