https://www.taxtmi.com/caselaws?id=62934 The Tribunal held that the share of profit from the firm belonged to the individual kartas in their personal capacity after partial partitions, not to the HUFs. The Tribunal emphasized the intention and conduct of the parties, ruling that the right to share profit had been allotted to the kartas individually. The Tribunal dismissed Revenue's appeals, affirming that the HUFs were not liable to be assessed for any share profit from the firm. The judgments were consistent across all cases, aligning with the precedent set in a previous case. en-us Mon, 24 Jul 1989 00:00:00 +0530 Mon, 24 Jan 2011 17:51:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62934 The Tribunal held that the share of profit from the firm belonged to the individual kartas in their personal capacity after partial partitions, not to the HUFs. The Tribunal emphasized the intention and conduct of the parties, ruling that the right to share profit had been allotted to the kartas individually. The Tribunal dismissed Revenue's appeals, affirming that the HUFs were not liable to be assessed for any share profit from the firm. The judgments were consistent across all cases, aligning with the precedent set in a previous case. Case-Laws Income Tax Mon, 24 Jul 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62934