https://www.taxtmi.com/caselaws?id=8035 The Supreme Court ruled in favor of the assessee, stating that sitting fees and remuneration received by an individual as a director should not be considered as income of a Hindu undivided family solely based on the ownership of qualifying shares purchased with joint family funds. The Court emphasized the necessity of a genuine connection between the income and family funds for taxation as family income, highlighting that such income should only be taxable if earned to the detriment of family funds or with their aid. en-us Wed, 15 Jul 1970 00:00:00 +0530 Fri, 27 Mar 2009 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8035 The Supreme Court ruled in favor of the assessee, stating that sitting fees and remuneration received by an individual as a director should not be considered as income of a Hindu undivided family solely based on the ownership of qualifying shares purchased with joint family funds. The Court emphasized the necessity of a genuine connection between the income and family funds for taxation as family income, highlighting that such income should only be taxable if earned to the detriment of family funds or with their aid. Case-Laws Income Tax Wed, 15 Jul 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8035