https://www.taxtmi.com/caselaws?id=8865 The High Court of Allahabad ruled in favor of the department, determining that the share income from a partnership firm should be assessed as the income of the Hindu undivided family. The court held that despite the partnership deed indicating otherwise, the beneficial ownership of the income belonged to the family as it derived from family assets. The judgment emphasized that since the individual did not contribute personal capital and the income stemmed from family funds, it rightfully belonged to the joint Hindu family. The court ordered the assessee to pay costs and counsel fees, affirming the assessment decision. en-us Wed, 28 Mar 1973 00:00:00 +0530 Tue, 16 Jun 2009 13:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8865 The High Court of Allahabad ruled in favor of the department, determining that the share income from a partnership firm should be assessed as the income of the Hindu undivided family. The court held that despite the partnership deed indicating otherwise, the beneficial ownership of the income belonged to the family as it derived from family assets. The judgment emphasized that since the individual did not contribute personal capital and the income stemmed from family funds, it rightfully belonged to the joint Hindu family. The court ordered the assessee to pay costs and counsel fees, affirming the assessment decision. Case-Laws Income Tax Wed, 28 Mar 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8865