Law:

Section:

Section 4 of the Income-tax Act, 1961 - Individual - Assessable as - Assessment years 1997-98 to 2000-01 - After notices under section 148 were issued in case of assessee for reason that various investments made by him did not stand reflected in original returns filed by him in his individual capacity, assessee filed returns in status of HUF showing said investments in hands of HUF - Those returns were treated as non est being belated and Assessing Officer completed reassessments in status of an individual, making additions in respect of investments in question - On appeal, Commissioner (Appeals) upheld order of Assessing Officer by holding that assessee failed to prove that business was carried on by HUF and income derived was in status of HUF - Whether findings recorded by Commissioner (Appeals), which were affirmed by Tribunal, were pure findings of fact and did not require any interference - Held, yes FACTS For the assessment years 1997-98 to 2000-01, notices under section 148 were issued in the case of the assessee for the reason that various investments made by him did not stand reflected in the original returns filed by him in his individual capacity. Thereafter, the assessee filed returns in the status of HUF. Those returns were treated by the Assessing Officer as non est being belated. During the reassessment proceedings in the status of an individual, the assessee had stated that all investments stood in the hands of his HUF. The Assessing Officer, however, completed the assessments in the status of an individual and in those assessments, additions were made observing that in case the assessee was able to prove the investments being in the hands of the HUF, the additions in the status of individual would be protective, otherwise they would be treated as substantive. In the HUF assessment for the assessment year 1996-97, the Assessing Officer concluded that, in fact, no HUF existed and the business was the individual business of the assessee. However, income was assessed in the hands of the HUF on a protective basis, since the return had been filed in the status of HUF. On appeal, the Commissioner (Appeals) upheld the Assessing Officer's findings that…

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