https://www.taxtmi.com/caselaws?id=27374 A karta of a Hindu undivided family may validly enter into a partnership with coparceners in their individual capacity because partnership rests on contract, not status. The arrangement remains valid where the coparceners contribute self-acquired income or gifted funds, while the family status continues intact; the key requirement is that their capital is unconnected with joint family assets. On the facts stated, the sons contributed separate funds and the karta contributed joint family funds, so the firm was entitled to registration and the question was answered in favour of validity. en-us Wed, 07 Dec 1983 00:00:00 +0530 Fri, 12 Feb 2010 13:45:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27374 A karta of a Hindu undivided family may validly enter into a partnership with coparceners in their individual capacity because partnership rests on contract, not status. The arrangement remains valid where the coparceners contribute self-acquired income or gifted funds, while the family status continues intact; the key requirement is that their capital is unconnected with joint family assets. On the facts stated, the sons contributed separate funds and the karta contributed joint family funds, so the firm was entitled to registration and the question was answered in favour of validity. Case-Laws Income Tax Wed, 07 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27374