https://www.taxtmi.com/caselaws?id=6670 Sitting fees received by a karta as a company director were treated as Hindu undivided family income where the qualifying shares were impressed with joint family property. The determining factor was that the remuneration arose from an office sustained by family assets: the director's position was not separately thrown into the hotchpot, but the family-owned shares furnished the basis for the directorship. The income was traced to its basic foundation, and there was no material distinction between direct use of family funds to acquire the qualifying shares and their continued use to maintain the qualification that generated the income. The sitting fees were therefore taxable in the hands of the HUF, not as the assessee's separate income. en-us Mon, 01 Nov 1965 00:00:00 +0530 Sun, 01 Feb 2009 05:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6670 Sitting fees received by a karta as a company director were treated as Hindu undivided family income where the qualifying shares were impressed with joint family property. The determining factor was that the remuneration arose from an office sustained by family assets: the director's position was not separately thrown into the hotchpot, but the family-owned shares furnished the basis for the directorship. The income was traced to its basic foundation, and there was no material distinction between direct use of family funds to acquire the qualifying shares and their continued use to maintain the qualification that generated the income. The sitting fees were therefore taxable in the hands of the HUF, not as the assessee's separate income. Case-Laws Income Tax Mon, 01 Nov 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6670