https://www.taxtmi.com/caselaws?id=276471 Dividend income from shares held in the karta's name but acquired with Hindu undivided family funds was treated as income of the real owner, not the nominal or registered holder. The text explains that tax attaches to the beneficial owner of income, and that the provisions on deduction at source, deemed dividend distribution, and grossing up only govern the shareholder's limited statutory credit and adjustment. They do not require dividend income to be assessed always in the hands of the registered holder where beneficial ownership lies with the family. Accordingly, income arising from family assets remained taxable in the hands of the HUF. en-us Fri, 19 Jul 1963 00:00:00 +0530 Mon, 12 Nov 2018 16:39:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276471 Dividend income from shares held in the karta's name but acquired with Hindu undivided family funds was treated as income of the real owner, not the nominal or registered holder. The text explains that tax attaches to the beneficial owner of income, and that the provisions on deduction at source, deemed dividend distribution, and grossing up only govern the shareholder's limited statutory credit and adjustment. They do not require dividend income to be assessed always in the hands of the registered holder where beneficial ownership lies with the family. Accordingly, income arising from family assets remained taxable in the hands of the HUF. Case-Laws Income Tax Fri, 19 Jul 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276471