https://www.taxtmi.com/caselaws?id=198535 Section 10(2) exemption for a payment by a Hindu undivided family applies only where the amount is paid out of the family's current year income; funds drawn from accumulated earlier income do not satisfy that condition, so the exemption claim failed. By contrast, section 56(2)(v) was held inapplicable because a receipt from a Hindu undivided family member falls within the proviso for amounts received from a relative, the family being treated as within the statutory concept of relative on the facts discussed. The receipt was therefore covered by the relative exception, while the alternative exemption claim was rejected. en-us Wed, 29 Feb 2012 00:00:00 +0530 Fri, 02 Feb 2018 15:37:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198535 Section 10(2) exemption for a payment by a Hindu undivided family applies only where the amount is paid out of the family's current year income; funds drawn from accumulated earlier income do not satisfy that condition, so the exemption claim failed. By contrast, section 56(2)(v) was held inapplicable because a receipt from a Hindu undivided family member falls within the proviso for amounts received from a relative, the family being treated as within the statutory concept of relative on the facts discussed. The receipt was therefore covered by the relative exception, while the alternative exemption claim was rejected. Case-Laws Income Tax Wed, 29 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198535