https://www.taxtmi.com/caselaws?id=69228 The Tribunal upheld the decision of the Appellate Assistant Commissioner to exclude the share income from a firm in the personal assessment of the assessee. It determined that the share could be impressed with the character of Hindu Undivided Family (HUF) property by unilateral action of the assessee, in accordance with Hindu Law principles. The Tribunal dismissed the Department's appeal, emphasizing the application of Hindu Law in treating the share income as HUF property and confirming its exclusion from the individual assessment. en-us Fri, 18 Aug 1978 00:00:00 +0530 Tue, 05 Apr 2011 18:32:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69228 The Tribunal upheld the decision of the Appellate Assistant Commissioner to exclude the share income from a firm in the personal assessment of the assessee. It determined that the share could be impressed with the character of Hindu Undivided Family (HUF) property by unilateral action of the assessee, in accordance with Hindu Law principles. The Tribunal dismissed the Department's appeal, emphasizing the application of Hindu Law in treating the share income as HUF property and confirming its exclusion from the individual assessment. Case-Laws Income Tax Fri, 18 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69228