https://www.taxtmi.com/caselaws?id=8721 Share income from Nathmal Tolaram (Petrol Depot) was assessable in the hands of the Hindu undivided family because the governing test was the character of the property from which the partnership share arose. The business had long been treated as a joint family business, the partition documents acknowledged the business and related properties as joint family assets, and the share received by Tolaram on partition was taken as representing his branch of the family. Property received on partition does not lose its joint family character in the coparcener's hands where there is no further partition from his sons, and income derived from investment of such family funds remains family income. en-us Fri, 26 May 1972 00:00:00 +0530 Wed, 03 Jun 2009 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8721 Share income from Nathmal Tolaram (Petrol Depot) was assessable in the hands of the Hindu undivided family because the governing test was the character of the property from which the partnership share arose. The business had long been treated as a joint family business, the partition documents acknowledged the business and related properties as joint family assets, and the share received by Tolaram on partition was taken as representing his branch of the family. Property received on partition does not lose its joint family character in the coparcener's hands where there is no further partition from his sons, and income derived from investment of such family funds remains family income. Case-Laws Income Tax Fri, 26 May 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8721