https://www.taxtmi.com/caselaws?id=8273 For income-tax purposes, Hindu undivided family assets do not cease to be joint family property unless there is actual division of the assets; a mere working out of shares, accounting entries, or an intended partition is insufficient. Where family funds are later divided and become the separate property of individual members, businesses started by them from those assets are treated as their separate businesses, and the resulting income is not assessable in the hands of the Hindu undivided family. en-us Tue, 10 Nov 1970 00:00:00 +0530 Thu, 09 Apr 2009 09:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8273 For income-tax purposes, Hindu undivided family assets do not cease to be joint family property unless there is actual division of the assets; a mere working out of shares, accounting entries, or an intended partition is insufficient. Where family funds are later divided and become the separate property of individual members, businesses started by them from those assets are treated as their separate businesses, and the resulting income is not assessable in the hands of the Hindu undivided family. Case-Laws Income Tax Tue, 10 Nov 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8273