https://www.taxtmi.com/caselaws?id=22331 The High Court ruled in favor of the Hindu undivided family, upholding the validity of the partial partition and dismissing tax liability on capital gains and interest income. The Court found that section 171 did not apply as the family was not previously assessed, making the partial partition legitimate. Consequently, the family was not liable for taxation on capital gains and interest income. Additionally, the share income from the partnership firm was deemed not assessable in the family's hands. The Court decided all issues against the Revenue, concluding the reference without costs awarded. en-us Mon, 17 Jun 1991 00:00:00 +0530 Wed, 09 Dec 2009 12:15:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22331 The High Court ruled in favor of the Hindu undivided family, upholding the validity of the partial partition and dismissing tax liability on capital gains and interest income. The Court found that section 171 did not apply as the family was not previously assessed, making the partial partition legitimate. Consequently, the family was not liable for taxation on capital gains and interest income. Additionally, the share income from the partnership firm was deemed not assessable in the family's hands. The Court decided all issues against the Revenue, concluding the reference without costs awarded. Case-Laws Income Tax Mon, 17 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22331