https://www.taxtmi.com/caselaws?id=8071 A partner's share in the profits of a new firm was treated as individual income rather than Hindu undivided family income because the partnership deed did not show that he entered the firm as karta, Hindu law does not presume joint family ownership merely from managerial status, and his income-tax returns consistently treated the receipts as personal income. Later inconsistent declarations and the fact that the firm had borrowed from another concern with family capital participation were insufficient to prove that family funds were contributed or that the income was unequivocally blended with joint family property. The presumption of individual ownership was therefore not rebutted. en-us Wed, 18 Feb 1970 00:00:00 +0530 Sat, 28 Mar 2009 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8071 A partner's share in the profits of a new firm was treated as individual income rather than Hindu undivided family income because the partnership deed did not show that he entered the firm as karta, Hindu law does not presume joint family ownership merely from managerial status, and his income-tax returns consistently treated the receipts as personal income. Later inconsistent declarations and the fact that the firm had borrowed from another concern with family capital participation were insufficient to prove that family funds were contributed or that the income was unequivocally blended with joint family property. The presumption of individual ownership was therefore not rebutted. Case-Laws Income Tax Wed, 18 Feb 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8071