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<h1>High Court rules interest income assessed for Hindu undivided family cannot be taxed for individual</h1> The High Court of Allahabad ruled in favor of the assessee, an individual, stating that interest income assessed in the hands of a Hindu undivided family ... Income, Interest The High Court of Allahabad ruled in favor of the assessee, an individual, stating that interest income assessed in the hands of a Hindu undivided family could not be assessed in the individual's hands. The Tribunal's decision was legally justified. (Case citation: 1992 (9) TMI 47 - Allahabad High Court)
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