https://www.taxtmi.com/caselaws?id=292007 On partition of a Hindu undivided family, a coparcener cannot be treated as receiving a separate share in profits unless the partition deed or surrounding facts show that profits were specifically ascertained and allotted as such. The estate is divided as a net residue as a whole, after debts, without any necessary separation between capital and income. A receipt taken from the allotted family property is therefore not taxable as profit merely because it arose from business assets or was brought into British India. The principle differs from partnership, where profit shares and undrawn profits are identifiable. The referred question was answered in the negative, in favour of the assessee. en-us Wed, 11 Jan 1950 00:00:00 +0530 Fri, 04 Dec 2020 10:22:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292007 On partition of a Hindu undivided family, a coparcener cannot be treated as receiving a separate share in profits unless the partition deed or surrounding facts show that profits were specifically ascertained and allotted as such. The estate is divided as a net residue as a whole, after debts, without any necessary separation between capital and income. A receipt taken from the allotted family property is therefore not taxable as profit merely because it arose from business assets or was brought into British India. The principle differs from partnership, where profit shares and undrawn profits are identifiable. The referred question was answered in the negative, in favour of the assessee. Case-Laws Income Tax Wed, 11 Jan 1950 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292007