https://www.taxtmi.com/caselaws?id=66719 The Tribunal ruled in favor of the appellant, determining that the income from the asset assigned to the relinquishing member ceased to belong to the family. The Tribunal emphasized the significance of acknowledging valid claims under section 171 for accurate assessment in cases involving partial partitions within a Hindu Undivided Family (HUF). Furthermore, the Tribunal upheld the gross profit addition of Rs. 5,000, without interfering with the Appellate Authority's decision on this issue. en-us Mon, 09 Feb 1976 00:00:00 +0530 Sat, 05 Mar 2011 18:30:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66719 The Tribunal ruled in favor of the appellant, determining that the income from the asset assigned to the relinquishing member ceased to belong to the family. The Tribunal emphasized the significance of acknowledging valid claims under section 171 for accurate assessment in cases involving partial partitions within a Hindu Undivided Family (HUF). Furthermore, the Tribunal upheld the gross profit addition of Rs. 5,000, without interfering with the Appellate Authority's decision on this issue. Case-Laws Income Tax Mon, 09 Feb 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66719