https://www.taxtmi.com/caselaws?id=251936 The court clarified that the transfer of a portion of a partnership firm share by the petitioner, as the Kartha of an HUF, to his wife did not alter the income status of the HUF as long as the wife remained part of the HUF. Since the income from the partnership firm continued to belong to the HUF and no change in shares occurred, the court dismissed the petitioner's request. The court also found that the profit derived by the wife should not be assessed as the income of the assessee, ruling in favor of the respondent without costs. en-us Tue, 02 Sep 2014 00:00:00 +0530 Mon, 06 Oct 2014 08:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251936 The court clarified that the transfer of a portion of a partnership firm share by the petitioner, as the Kartha of an HUF, to his wife did not alter the income status of the HUF as long as the wife remained part of the HUF. Since the income from the partnership firm continued to belong to the HUF and no change in shares occurred, the court dismissed the petitioner's request. The court also found that the profit derived by the wife should not be assessed as the income of the assessee, ruling in favor of the respondent without costs. Case-Laws Income Tax Tue, 02 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251936