https://www.taxtmi.com/circulars?id=10242 A partner's unilateral declaration converting his partnership share into joint family property is ineffective where that conversion would burden the HUF with partnership liabilities; the blending doctrine does not apply to assets that carry liabilities, partners remain jointly and severally liable for firm obligations, and such declarations must be ignored for tax assessment, with reviews of completed assessments to rectify any revenue loss. en-us Tue, 30 Apr 1974 00:00:00 +0530 Mon, 13 Jun 2011 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10242 A partner's unilateral declaration converting his partnership share into joint family property is ineffective where that conversion would burden the HUF with partnership liabilities; the blending doctrine does not apply to assets that carry liabilities, partners remain jointly and severally liable for firm obligations, and such declarations must be ignored for tax assessment, with reviews of completed assessments to rectify any revenue loss. Circulars Income Tax Tue, 30 Apr 1974 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10242