https://www.taxtmi.com/caselaws?id=8854 Remuneration received by a coparcener from companies in which the HUF held shares is assessable as the individual's income where it is, in substance, compensation for personal services rather than a return on joint family funds. The fact that family funds were used for shareholding or qualification shares is not conclusive. Where the coparcener devotes full time, performs day-to-day functions, supervises business operations, and is paid for services actually rendered, the receipt retains the character of personal income. The Rajasthan HC accordingly treated the remuneration as the coparcener's individual income and not includible in the HUF's income. en-us Mon, 18 Sep 1972 00:00:00 +0530 Tue, 16 Jun 2009 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8854 Remuneration received by a coparcener from companies in which the HUF held shares is assessable as the individual's income where it is, in substance, compensation for personal services rather than a return on joint family funds. The fact that family funds were used for shareholding or qualification shares is not conclusive. Where the coparcener devotes full time, performs day-to-day functions, supervises business operations, and is paid for services actually rendered, the receipt retains the character of personal income. The Rajasthan HC accordingly treated the remuneration as the coparcener's individual income and not includible in the HUF's income. Case-Laws Income Tax Mon, 18 Sep 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8854