https://www.taxtmi.com/caselaws?id=60038 The Tribunal upheld the reopening of the assessment under Section 147(a) of the Income-tax Act, 1961, stating that the Income Tax Officer had sufficient material to form a tentative belief that income had escaped assessment. The Tribunal concluded that the guarantee commission of Rs. 3,70,000 was assessable in the hands of the Hindu Undivided Family (HUF) of late Shri M.L. Jalan, rather than in his individual capacity, based on evidence showing the commission was earned by Shri M.L. Jalan as karta of the HUF. The majority view allowed the appeal in favor of assessing the income in the HUF's hands. en-us Wed, 14 Sep 1983 00:00:00 +0530 Mon, 03 Jan 2011 14:36:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60038 The Tribunal upheld the reopening of the assessment under Section 147(a) of the Income-tax Act, 1961, stating that the Income Tax Officer had sufficient material to form a tentative belief that income had escaped assessment. The Tribunal concluded that the guarantee commission of Rs. 3,70,000 was assessable in the hands of the Hindu Undivided Family (HUF) of late Shri M.L. Jalan, rather than in his individual capacity, based on evidence showing the commission was earned by Shri M.L. Jalan as karta of the HUF. The majority view allowed the appeal in favor of assessing the income in the HUF's hands. Case-Laws Income Tax Wed, 14 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60038