https://www.taxtmi.com/caselaws?id=9209 The court validated the reassessment proceedings under section 147(b) of the Income-tax Act, 1961, based on subsequent case law providing new information. It ruled that the remuneration received by the karta as managing director should be assessed in his individual capacity, not as income of the Hindu undivided family, as it was deemed compensation for personal services rather than a return on family investments. The revenue was directed to cover the assessee's costs, including counsel fees of Rs. 250. en-us Tue, 24 Apr 1973 00:00:00 +0530 Sat, 20 Jun 2009 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9209 The court validated the reassessment proceedings under section 147(b) of the Income-tax Act, 1961, based on subsequent case law providing new information. It ruled that the remuneration received by the karta as managing director should be assessed in his individual capacity, not as income of the Hindu undivided family, as it was deemed compensation for personal services rather than a return on family investments. The revenue was directed to cover the assessee's costs, including counsel fees of Rs. 250. Case-Laws Income Tax Tue, 24 Apr 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9209