https://www.taxtmi.com/caselaws?id=20958 The High Court ruled in favor of the assessee, affirming the validity of the claimed partial partition for the assessment years 1973-74 and 1974-75. The court emphasized that a valid partial partition under the Income-tax Act does not require physical division of property and can involve retaining some assets as joint family property while dividing others among family members. The judgment highlighted the authority of the karta to effect a partition and stressed that the Revenue must adhere to statutory definitions without questioning the fairness of the partition unless the transaction's genuineness is in doubt. en-us Thu, 10 Dec 1992 00:00:00 +0530 Wed, 18 Nov 2009 12:44:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20958 The High Court ruled in favor of the assessee, affirming the validity of the claimed partial partition for the assessment years 1973-74 and 1974-75. The court emphasized that a valid partial partition under the Income-tax Act does not require physical division of property and can involve retaining some assets as joint family property while dividing others among family members. The judgment highlighted the authority of the karta to effect a partition and stressed that the Revenue must adhere to statutory definitions without questioning the fairness of the partition unless the transaction's genuineness is in doubt. Case-Laws Income Tax Thu, 10 Dec 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20958