https://www.taxtmi.com/caselaws?id=20427 A valid partnership constituted by the karta and coparceners of a Hindu undivided family meant that the business income could not be assessed as the family's entire income. The tax consequence was limited to the assessee's share in the partnership profits, because once the partnership was recognised as valid, only that share income was attributable to the assessee in its hands. The Revenue's attempt to tax the whole business income of the partnership concern in the hands of the Hindu undivided family was rejected, and taxation was confined to the share income arising from the valid partnership. en-us Thu, 19 Aug 1993 00:00:00 +0530 Fri, 13 Nov 2009 18:26:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20427 A valid partnership constituted by the karta and coparceners of a Hindu undivided family meant that the business income could not be assessed as the family's entire income. The tax consequence was limited to the assessee's share in the partnership profits, because once the partnership was recognised as valid, only that share income was attributable to the assessee in its hands. The Revenue's attempt to tax the whole business income of the partnership concern in the hands of the Hindu undivided family was rejected, and taxation was confined to the share income arising from the valid partnership. Case-Laws Income Tax Thu, 19 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20427