https://www.taxtmi.com/caselaws?id=24319 Actual division of Hindu undivided family assets in two firms by metes and bounds, reflected in both the family accounts and the firms' books, supported recognition of a partial partition under section 171 of the Income-tax Act, 1961. Because the members thereafter agreed to share profits and losses equally, the controversy was treated as primarily factual rather than one of abstract legal prohibition. On those findings, the partial partition could not be denied recognition and was held valid, with the referred question answered in favour of the assessee. en-us Wed, 01 Mar 1989 00:00:00 +0530 Tue, 19 Jan 2010 11:54:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24319 Actual division of Hindu undivided family assets in two firms by metes and bounds, reflected in both the family accounts and the firms' books, supported recognition of a partial partition under section 171 of the Income-tax Act, 1961. Because the members thereafter agreed to share profits and losses equally, the controversy was treated as primarily factual rather than one of abstract legal prohibition. On those findings, the partial partition could not be denied recognition and was held valid, with the referred question answered in favour of the assessee. Case-Laws Income Tax Wed, 01 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24319