https://www.taxtmi.com/caselaws?id=29380 The court held that the salary received by Rajeshwar Pershad from Vijay Shri P. Ltd. should be treated as his individual income and not as the income of the Hindu Undivided Family (HUF). The court found that the remuneration was for services rendered by Rajeshwar Pershad and not a return on the family's investment, supported by the family's substantial withdrawals from the company and lack of dividends. Rajeshwar Pershad's qualifications and the necessity of his role in the company justified the salary as his individual income. The court ruled in favor of the assessee, awarding costs and counsel's fee. en-us Tue, 21 Jul 1981 00:00:00 +0530 Fri, 12 Mar 2010 15:06:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29380 The court held that the salary received by Rajeshwar Pershad from Vijay Shri P. Ltd. should be treated as his individual income and not as the income of the Hindu Undivided Family (HUF). The court found that the remuneration was for services rendered by Rajeshwar Pershad and not a return on the family's investment, supported by the family's substantial withdrawals from the company and lack of dividends. Rajeshwar Pershad's qualifications and the necessity of his role in the company justified the salary as his individual income. The court ruled in favor of the assessee, awarding costs and counsel's fee. Case-Laws Income Tax Tue, 21 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29380