COMMISSIONER OF WEALTH TAX Vs. A VENKATESWARAN DECD

JUDGEMENT

(1.) THE questions referred to us are required to be answered in favour of the assessee and against the Revenue, in the light of the decision of this court in the case of CWT v. T. Saraswathi Achi [1980] 125 ITR 186.

(2.) THE assessee herein had thrown certain shares in the hotchpot by impressing the same with the character of the joint family property and thereafter, entered into a partition by which were allotted shares in certain limited companies to the minor son. Subsequently, bonus shares were allotted to the minor son.