https://www.taxtmi.com/caselaws?id=282303 A proven nucleus of joint family property can support a presumption that acquisitions made by a family member belong to the joint family, and a false explanation about the source of funds strengthens that inference. On the facts, the Tribunal had material to conclude that the disputed sums came from the family business: the business was longstanding, carried on in the same premises, the member had no independent income, and his explanation was found false. The Tribunal's finding on source of investment was therefore based on material and not on any wrong legal principle, so the High Court could not interfere with that factual conclusion. en-us Thu, 04 Apr 1957 00:00:00 +0530 Thu, 01 Aug 2019 15:00:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282303 A proven nucleus of joint family property can support a presumption that acquisitions made by a family member belong to the joint family, and a false explanation about the source of funds strengthens that inference. On the facts, the Tribunal had material to conclude that the disputed sums came from the family business: the business was longstanding, carried on in the same premises, the member had no independent income, and his explanation was found false. The Tribunal's finding on source of investment was therefore based on material and not on any wrong legal principle, so the High Court could not interfere with that factual conclusion. Case-Laws Income Tax Thu, 04 Apr 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282303