https://www.taxtmi.com/caselaws?id=39186 The High Court affirmed the Tribunal's decision that three minors were admitted to the benefits of the partnership as heirs of Yudhisthir Lal and due to the interest-free use of the Hindu undivided family's capital. It was held that the minors' shares in M/s. Grand Smithy Works were assessable in the hands of the assessee-HUF. The Court agreed with the Tribunal's findings, concluding that the income earned by the minors was connected to the utilization of the HUF's capital, causing detriment to the family. The decision favored the revenue in both aspects. en-us Tue, 23 Mar 1976 00:00:00 +0530 Tue, 13 Apr 2010 15:33:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39186 The High Court affirmed the Tribunal's decision that three minors were admitted to the benefits of the partnership as heirs of Yudhisthir Lal and due to the interest-free use of the Hindu undivided family's capital. It was held that the minors' shares in M/s. Grand Smithy Works were assessable in the hands of the assessee-HUF. The Court agreed with the Tribunal's findings, concluding that the income earned by the minors was connected to the utilization of the HUF's capital, causing detriment to the family. The decision favored the revenue in both aspects. Case-Laws Income Tax Tue, 23 Mar 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39186