TaxTMI 
TaxTMI 
1988 (11) TMI 83
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....his capacity as karta of a-Hindu undivided family consisting of himself, his wife and minor son, was a partner in two firms. On March 31, 1973, a partial partition of the Hindu undivided family was effected whereby the shares in the two firms were divided equally between the assessee, his wife and minor son. The Income-tax Officer accepted the partial partition of the Hindu undivided family. For t....
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....e of the partial partition deed whereby an overriding title, regarding the shares of the minor and the wife, was created on the assessee as he had undertaken to be liable to account for all profits that he may receive from the two partnership firms to his wife and son and gave relief to the assessee. The Tribunal agreed with the Appellate Assistant Commissioner and at the instance of the Revenue, ....
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....essee has placed reliance on CIT v. Ram Narain [1980] 126 ITR 267 (P & H), a decision of our court and CIT v. Pabbati Shankaraiah [1984] 145 ITR 702 of the Andhra Pradesh High Court. After considering the provisions of the Act and the above cited judgments, we are of the opinion that Mahendra Singh's case [1980] 123 ITR 938 (Guj) and Ram Narain's case [1980] 126 ITR 267 (P & H) are distinguishable....