https://www.taxtmi.com/caselaws?id=37676 The Tribunal held that trustees could be partners in a firm and that the partnership was genuine, emphasizing that the Income Tax Officer should only assess the genuineness of the partnership, not the validity of the trusts. The High Court affirmed this, ruling that the partners acted as trustees in the partnership, and thus, the share income from the firm should not be included in their individual assessments. As a result, the High Court decided in favor of the assessee, concluding that the share income was not to be included in the computation of the individual partners' income, awarding costs of Rs. 200. en-us Tue, 04 Apr 1978 00:00:00 +0530 Wed, 31 Mar 2010 13:04:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37676 The Tribunal held that trustees could be partners in a firm and that the partnership was genuine, emphasizing that the Income Tax Officer should only assess the genuineness of the partnership, not the validity of the trusts. The High Court affirmed this, ruling that the partners acted as trustees in the partnership, and thus, the share income from the firm should not be included in their individual assessments. As a result, the High Court decided in favor of the assessee, concluding that the share income was not to be included in the computation of the individual partners' income, awarding costs of Rs. 200. Case-Laws Income Tax Tue, 04 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37676