https://www.taxtmi.com/caselaws?id=276989 An unambiguous recital in a partnership deed that an assessee entered the firm as manager of a Hindu undivided family, coupled with the partnership actually functioning on that basis, was sufficient to show that the share of profits was received in a representative capacity. The absence of ancestral nucleus did not prevent self-acquired property from being impressed with the character of joint family property, and no additional formalities were required; intention was the ative factor. The capital source had already been treated as concluded by the income-tax authorities and was not reopened, and the Madras HC accepted the family-capacity character of the receipts. en-us Mon, 11 Apr 1955 00:00:00 +0530 Wed, 21 Nov 2018 18:37:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276989 An unambiguous recital in a partnership deed that an assessee entered the firm as manager of a Hindu undivided family, coupled with the partnership actually functioning on that basis, was sufficient to show that the share of profits was received in a representative capacity. The absence of ancestral nucleus did not prevent self-acquired property from being impressed with the character of joint family property, and no additional formalities were required; intention was the ative factor. The capital source had already been treated as concluded by the income-tax authorities and was not reopened, and the Madras HC accepted the family-capacity character of the receipts. Case-Laws Income Tax Mon, 11 Apr 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276989