High Court rules interest income assessed for Hindu undivided family cannot be taxed for individual

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.

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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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