https://www.taxtmi.com/caselaws?id=20001 A recognised partial partition led to a transfer of funds to the karta's daughters, and the High Court treated the transfer as effective for wealth-tax purposes. The Department had accepted the partial partition, the interest on the deposited amounts was not assessed as the Hindu undivided family's income, and there was no evidence that the family retained control over the money merely because the entries appeared in the books. On that basis, the amount of Rs. 60,000 was held not includible in the net wealth of the Hindu undivided family, and the Tribunal's finding was upheld. en-us Mon, 27 Sep 1993 00:00:00 +0530 Wed, 11 Nov 2009 11:04:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20001 A recognised partial partition led to a transfer of funds to the karta's daughters, and the High Court treated the transfer as effective for wealth-tax purposes. The Department had accepted the partial partition, the interest on the deposited amounts was not assessed as the Hindu undivided family's income, and there was no evidence that the family retained control over the money merely because the entries appeared in the books. On that basis, the amount of Rs. 60,000 was held not includible in the net wealth of the Hindu undivided family, and the Tribunal's finding was upheld. Case-Laws Wealth-tax Mon, 27 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20001