https://www.taxtmi.com/caselaws?id=373769 The Tribunal affirmed that assessments could not be made on the larger HUF post-partition, dismissing Revenue's appeals. It directed reevaluation of unexplained investments in FDRs, emphasizing the need for corroborative evidence and proper allocation among smaller HUFs formed post-partition. The decision stressed crediting agricultural income against unexplained investments and ensuring fair distribution. The appeals of E. Krishna Murthy and smaller HUFs were allowed for re-computation, highlighting the significance of accurate allocation and corroborative evidence in tax assessments. en-us Mon, 26 Nov 2018 00:00:00 +0530 Sat, 19 Jan 2019 07:56:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373769 The Tribunal affirmed that assessments could not be made on the larger HUF post-partition, dismissing Revenue's appeals. It directed reevaluation of unexplained investments in FDRs, emphasizing the need for corroborative evidence and proper allocation among smaller HUFs formed post-partition. The decision stressed crediting agricultural income against unexplained investments and ensuring fair distribution. The appeals of E. Krishna Murthy and smaller HUFs were allowed for re-computation, highlighting the significance of accurate allocation and corroborative evidence in tax assessments. Case-Laws Income Tax Mon, 26 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373769