Supreme Court · 1966 INSC 44 · Decided 10 February 1966
Kishanchand Lunidasingh Bajaj v. Commissioner of Income-Tax, Mysore
- Court
- Supreme Court of India
- Citation
- 1966 INSC 44 · [1966] 3 S.C.R. 573
- Case number
- CIVIL APPEAL No. 234/1965
- Decided
- 10 February 1966
- Bench
- P.B. GAJENDRAGADKAR, K.N. WANCHOO, J.C. SHAH, S.M. SIKRI, V. RAMASWAMI (5-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 3, 16(2)
Headnote
c D KISHANCHAND LUNIDASINGH BAJAJ v. COMMISSIONER OF INCOME-TAX, MYSORE February 10, 1966. (P. B. GAJENDRAGADKAR, C. J., K. N. WANCHOO, J.C. SHAH, S. M. SIKRI AND V. RAMASWAMI, JJ.J Indian Income-tax Act, 1922 (11 of 1922), s. 16(2)-Rea/ owner mid registered owner of shares different-Tax liability in the name of a tirm and in the books of account of the firm the shares which stood registered in the name of B with the companies were credited as the capital of the business. Two sons sepa­ rated from the family, each receiving •urns in lieu of his share, and theJ formed a partne:sbip
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