https://www.taxtmi.com/caselaws?id=49577 The note addresses whether managing-agency commission income remained HUF income after a partition. It states that Hindu law permits an effective oral and memorandum-recorded partition that severs joint family ownership and converts joint interests into separate shares; such division determines the source of income for income-tax purposes based on ownership and enjoyment. The Partnership Act or practical impracticability of admitting all members as partners does not prevent a valid Hindu-law partition. Consequently, once members received definite shares in the commissions, the income could not be treated as that of a continuing HUF. en-us Tue, 15 Mar 1960 00:00:00 +0530 Wed, 03 Sep 2014 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49577 The note addresses whether managing-agency commission income remained HUF income after a partition. It states that Hindu law permits an effective oral and memorandum-recorded partition that severs joint family ownership and converts joint interests into separate shares; such division determines the source of income for income-tax purposes based on ownership and enjoyment. The Partnership Act or practical impracticability of admitting all members as partners does not prevent a valid Hindu-law partition. Consequently, once members received definite shares in the commissions, the income could not be treated as that of a continuing HUF. Case-Laws Income Tax Tue, 15 Mar 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49577