https://www.taxtmi.com/caselaws?id=7831 A partnership deed involving joint family property is not validly framed where the kartas of two Hindu undivided families join as partners for family assets and the coparceners of those families are also shown as partners in their individual capacity. The deed was construed as making the fathers partners as kartas and the sons individual partners, but the capital came from family funds and no separate property was contributed by the sons. Applying Supreme Court principles, the arrangement was held inconsistent with the nature of a joint Hindu family, because a coparcener cannot simultaneously hold an individual partnership interest in the same venture based on joint family property. The firm was therefore not entitled to registration under section 26A. en-us Mon, 16 Dec 1968 00:00:00 +0530 Thu, 19 Mar 2009 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7831 A partnership deed involving joint family property is not validly framed where the kartas of two Hindu undivided families join as partners for family assets and the coparceners of those families are also shown as partners in their individual capacity. The deed was construed as making the fathers partners as kartas and the sons individual partners, but the capital came from family funds and no separate property was contributed by the sons. Applying Supreme Court principles, the arrangement was held inconsistent with the nature of a joint Hindu family, because a coparcener cannot simultaneously hold an individual partnership interest in the same venture based on joint family property. The firm was therefore not entitled to registration under section 26A. Case-Laws Income Tax Mon, 16 Dec 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7831