https://www.taxtmi.com/caselaws?id=70198 The Tribunal allowed the appeal, directing the ITO to recognize the partial partition of movable assets amounting to Rs. 55,911 as claimed by the appellant. The Tribunal disagreed with the Madhya Pradesh High Court decision, emphasizing that the law as established by the Supreme Court favored the taxpayer. The presence of an agreement where the Karta acted on behalf of himself and his minor children as their guardian distinguished this case from the circumstances in the Madhya Pradesh case. en-us Fri, 10 Apr 1981 00:00:00 +0530 Thu, 14 Apr 2011 17:50:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70198 The Tribunal allowed the appeal, directing the ITO to recognize the partial partition of movable assets amounting to Rs. 55,911 as claimed by the appellant. The Tribunal disagreed with the Madhya Pradesh High Court decision, emphasizing that the law as established by the Supreme Court favored the taxpayer. The presence of an agreement where the Karta acted on behalf of himself and his minor children as their guardian distinguished this case from the circumstances in the Madhya Pradesh case. Case-Laws Income Tax Fri, 10 Apr 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70198