Inder Mohan Aggarwal (HUF) vs Commissioner of Income Tax

V. Ramaswami, C.J.—We are satisfied that the following questions of law do arise out of the order of the Tribunal :

"(1) Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the insurance money belonged to the Hindu undivided family and not to the widow of the karta in spite of the fact that the karta had specifically nominated his wife on the insurance sums receivable as the exclusive owner of such amounts ?

(2) Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that there was enough material before the Tribunal to hold that the karta had not taken the policies only for the benefit of the widow to the exclusion of the other members of the Hindu undivided family ?

(3) Whether there was any material before the Tribunal to hold that the suit filed by Shri Inder Mohan, karta of the Hindu undivided family, claiming the amounts receivable under the life insurance policies were his property was in collusion with his mother, Shrimati Sarla Devi Aggarwal ? and

(4) Whether the decree of the civil court did not operate as res judicata not only between the parties to the suit but also between the assessee and the Income Tax Officer ?"

Accordingly, we direct the Tribunal to draw up a statement of the case and refer the aforesaid questions of law to this court for its opinion.