https://www.taxtmi.com/caselaws?id=27607 The High Court held that the share income of a partner in a firm, who represented the Hindu undivided family (HUF), should be considered as the income of the HUF. The Court emphasized that the partnership interest was an asset of the HUF, and the partner, acting as the karta, held it on behalf of the HUF. Despite the absence of new capital contribution by the partner, the share income was deemed to belong to the HUF based on the partner's declaration and role as karta. The Court affirmed that the share income was rightly assessed in the hands of the HUF, supporting the Tribunal's decision in favor of the assessee. en-us Tue, 17 Aug 1982 00:00:00 +0530 Mon, 15 Feb 2010 10:12:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27607 The High Court held that the share income of a partner in a firm, who represented the Hindu undivided family (HUF), should be considered as the income of the HUF. The Court emphasized that the partnership interest was an asset of the HUF, and the partner, acting as the karta, held it on behalf of the HUF. Despite the absence of new capital contribution by the partner, the share income was deemed to belong to the HUF based on the partner's declaration and role as karta. The Court affirmed that the share income was rightly assessed in the hands of the HUF, supporting the Tribunal's decision in favor of the assessee. Case-Laws Income Tax Tue, 17 Aug 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27607