https://www.taxtmi.com/caselaws?id=36732 The court ruled in favor of transferring the partnership share to the Hindu Undivided Family (HUF) for taxation purposes. It held that the income derived from the partnership business belonged to the HUF, not the individual, based on established legal principles and precedents. The court emphasized that a partner could validly transfer interest in the firm to the HUF, citing relevant provisions of the Indian Partnership Act, 1932. The decision clarified the taxation treatment of transferred self-acquired property and awarded costs to the assessee. en-us Mon, 03 Mar 1980 00:00:00 +0530 Wed, 24 Mar 2010 11:48:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36732 The court ruled in favor of transferring the partnership share to the Hindu Undivided Family (HUF) for taxation purposes. It held that the income derived from the partnership business belonged to the HUF, not the individual, based on established legal principles and precedents. The court emphasized that a partner could validly transfer interest in the firm to the HUF, citing relevant provisions of the Indian Partnership Act, 1932. The decision clarified the taxation treatment of transferred self-acquired property and awarded costs to the assessee. Case-Laws Income Tax Mon, 03 Mar 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36732