https://www.taxtmi.com/caselaws?id=289540 Property or remuneration acquired with the aid of joint family funds retains the character of joint family property and cannot be treated as the coparcener's separate income. The alleged partition gift was not established as an individual acquisition because the partition deed contained no such transfer and the surrounding circumstances indicated only a money credit, not a personal grant of the house. The partnership profits were also treated as joint family income because the capital used to enter the partnership came from joint family funds. The monthly salary paid as managing partner likewise flowed from that family-backed partnership interest and was not separable as individual income. en-us Thu, 28 May 1959 00:00:00 +0530 Wed, 05 Aug 2020 18:52:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289540 Property or remuneration acquired with the aid of joint family funds retains the character of joint family property and cannot be treated as the coparcener's separate income. The alleged partition gift was not established as an individual acquisition because the partition deed contained no such transfer and the surrounding circumstances indicated only a money credit, not a personal grant of the house. The partnership profits were also treated as joint family income because the capital used to enter the partnership came from joint family funds. The monthly salary paid as managing partner likewise flowed from that family-backed partnership interest and was not separable as individual income. Case-Laws Income Tax Thu, 28 May 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289540