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PETITIONER: CHARANDAS HARIDAS AND ANOTHER
Vs.
RESPONDENT: THE COMMISSIONER OF INCOME-TAX,BOMBAY NORTH, KUTCH, SAURASHT
DATE OF JUDGMENT: 15/03/1960
BENCH: HIDAYATULLAH, M. BENCH: HIDAYATULLAH, M. DAS, S.K. KAPUR, J.L.
CITATION: 1960 AIR 910 1960 SCR (3) 296 CITATOR INFO : E 1960 SC1147 (19) R 1965 SC1708 (5) RF 1966 SC 719 (8) F 1967 SC 383 (12) RF 1967 SC 617 (33) R 1971 SC 383 (4) D 1982 SC 760 (25) R 1983 SC 409 (10,13,15,21,22)
ACT: Income-tax-Income from managing agency-Karta of Hindu undivided family becoming partner of managing agency firm- Income therefrom, assessed as family income-Subsequent Partition of managing commission-Claim for assessment as individual income of divided members.
HEADNOTE: C, who was the Karta of the Hindu undivided family con- sisting of his wife, three sons and himself, was a partner in six managing agency firms in six Mills, and the income received by him as partner ’was being assessed as that of the Hindu undivided family for the purposes of income-tax. On December 31, 1945, C, acting for his three minor sons and himself, and his wife entered into an oral agreement for a partial partition, with effect from January 1, 1946, by which C gave a certain share to his daughter in the managing agency commission from two of the six manag...