Law:

Section:

Section 4 of the Income-tax Act, 1961 - Hindu undivided family - Assessable as - Assessment years 1962-63 to 1965-66 - Whether having regard to rights of coparceners in a Dayabhaga Hindu undivided family, income from house property possessed jointly by members of Hindu undivided family should be assessed to tax not in hands of family but in hands of individual members by applying provisions of section 26 of Income-tax Act, 1961 - Held, yes - Whether, since income from bustee lands was assessable under head "other sources" under section 56 of 1961 Act, section 26 thereof would not apply and such income had to be assessed in hands of Hindu undivided family and not in hands of individual coparceners - Held, yes FACTS The assessee was a HUF and was governed by the Dayabhaga school of Hindu law. In the assessment years 1961-62 to 1965-66 the Income-tax Officer assessed the assessee under two heads, namely, (i) income from house property; and (ii) income from "other sources" consisting of bustee lands. The appeals preferred by the assessee from the said assessment orders were allowed in part by the Appellate Assistant Commissioner holding that the income from the house property should be assessed in the hands of the individual members of the family as they had a distinct and definite share therein, but not the income from the bustee lands which should be assessed in the hands of the family. On revenue's further appeal and cross-objections by the assessee, the Tribunal held that the income from the bustee lands should be assessed in the hands of the individual members of the family. On reference: HELD Having regard to the rights of the coparceners in a Dayabhaga Hindu undivided family the income from the house property possessed jointly by the members of the Hindu undivided family should be assessed to tax not in the hands of the family but in the hands of the individual members applying the provisions of section 9(3) of the Indian Income-tax Act, 1922, for the assessment year 1961-62 and section 26 of the Income-tax Act, 1961, for the assessment years 1962-63 to 1965-66. So far as income from busti land was concerned, it should be assessed under the head "other…

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