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Income of Husband cannot be taxed as Income of wife for mere Joint Account & such Account cannot be treated as undisclosed foreign a/c
Case Law Details
- Case Name
- ITO Vs Ayesha Abid Ali (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2006-07
- Courts
- All ITAT, ITAT Hyderabad
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ITO Vs Ayesha Abid Ali (ITAT Hyderabad)
We find that the Assessing Officer has made the addition in the hands of the assessee of interest income from an A/c with HSBC held by the assessee jointly with her husband which was opened by his employer to deposit his salary income. Therefore, it is not an undisclosed foreign a/c of the assessee and therefore, the exception (d) to the circular will not apply. Therefore, this M.A is dismissed.
FULL TEXT OF THE ORDER OF ITAT HYDERABAD
This M.A.is filed by the Revenue u/s 254(2) of the I.T. Act seeking recall of the order of the Tribunal...
My wife holding saving account and I am secondary joint account holder. Interest income is credited in this joint account. I have also separate individual account and PAN number. My wife having her own PAN number. I include interest income from my individual account for Income Tax. Is it correct or not….