https://www.taxtmi.com/caselaws?id=173261 In assessing whether the Hindu joint family or Naganatha Iyer individually was the partner in Andhra Trading Co., the Madras HC held that the Tribunal relied on an incorrect or incomplete reading of the accounts. The family had not contributed capital, and a later accounting adjustment could not retrospectively convert an individual partnership into a family partnership. The Court also noted that the Department had earlier treated the income as Naganatha Iyer's individual income and that there was no finding that the family was the partner from the firm's inception. On that record, there was no evidence to sustain the Tribunal's finding, and the reference was answered in favour of the assessee. en-us Mon, 12 Dec 1955 00:00:00 +0530 Fri, 11 Sep 2015 11:28:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173261 In assessing whether the Hindu joint family or Naganatha Iyer individually was the partner in Andhra Trading Co., the Madras HC held that the Tribunal relied on an incorrect or incomplete reading of the accounts. The family had not contributed capital, and a later accounting adjustment could not retrospectively convert an individual partnership into a family partnership. The Court also noted that the Department had earlier treated the income as Naganatha Iyer's individual income and that there was no finding that the family was the partner from the firm's inception. On that record, there was no evidence to sustain the Tribunal's finding, and the reference was answered in favour of the assessee. Case-Laws Income Tax Mon, 12 Dec 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173261