Supreme Court of India
Commissioner of Income Tax v. Sunil J. Kinariwala
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
In view of the aforesaid judgement, the orders under appeal are set aside.
Judgment, page 11
From the headnote
Income Tax Act, 1961; Sections 60 and 256(2): Assessee, a partner in a firm assigned part of his share income to a Trust-Tribunal held the income so assigned to Trust would be included in the total income of the assessee for the purpose qf assessment-High Court reversing the same-On appeal held, since Trust receives share of income of the assigner partner as assignee and not as a sub-partner it is a case of application of income by the assessee and not diversion qf income by. over riding title-Such share of income of assessee of the firm could be included in total income for the purpose of…
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