https://www.taxtmi.com/caselaws?id=64631 Share of profit from a partnership firm was assessable in the karta's individual hands where the partnership deed showed his admission as an individual partner and the surrounding accounting entries treated the family loan as the karta's personal account. The firm credited interest through that individual account, and the loan was later repaid by the karta to the family, which supported the conclusion that the income did not belong to the HUF. Accordingly, inclusion of the share income in the HUF assessment was not justified and the income was correctly assessable in the hands of the individual partner. en-us Mon, 17 Oct 1977 00:00:00 +0530 Wed, 09 Feb 2011 10:58:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64631 Share of profit from a partnership firm was assessable in the karta's individual hands where the partnership deed showed his admission as an individual partner and the surrounding accounting entries treated the family loan as the karta's personal account. The firm credited interest through that individual account, and the loan was later repaid by the karta to the family, which supported the conclusion that the income did not belong to the HUF. Accordingly, inclusion of the share income in the HUF assessment was not justified and the income was correctly assessable in the hands of the individual partner. Case-Laws Income Tax Mon, 17 Oct 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64631