https://www.taxtmi.com/caselaws?id=69211 The Tribunal upheld the decision to exclude Rs. 15,000 dividend income from the assessment of the larger Hindu Undivided Family (HUF) and recognized it as income of the new HUF formed through partial partition. It ruled that multiple HUFs with the same Karta can exist, emphasizing the validity of partial partitions under Section 171 of the Income Tax Act, 1961. The Tribunal held that income from partitioned assets should be assessed in the hands of the smaller HUF, affirming the legality of smaller HUFs within a larger HUF. en-us Fri, 10 Dec 1976 00:00:00 +0530 Tue, 05 Apr 2011 17:26:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69211 The Tribunal upheld the decision to exclude Rs. 15,000 dividend income from the assessment of the larger Hindu Undivided Family (HUF) and recognized it as income of the new HUF formed through partial partition. It ruled that multiple HUFs with the same Karta can exist, emphasizing the validity of partial partitions under Section 171 of the Income Tax Act, 1961. The Tribunal held that income from partitioned assets should be assessed in the hands of the smaller HUF, affirming the legality of smaller HUFs within a larger HUF. Case-Laws Income Tax Fri, 10 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69211