Supreme Court · 1978 INSC 116 · Decided 27 July 1978
M/S Y. L. Agarwalla and ORS. v. Commissioner of Income Tax, Central, Calcutta
- Court
- Supreme Court of India
- Citation
- 1978 INSC 116 · [1978] 3 S.C.R. 1059
- Case number
- CIVIL APPEAL No. 1112/1976
- Decided
- 27 July 1978
- Bench
- P.N. BHAGWATI, V.D. TULZAPURKAR (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
Hindu (Jndivided F'ami!y Finn-Karla having 36% shares as one of the partners of partnership firm and after his death his widow and three daughters di!Clined to continue in the partnership, but his three 1ninor sons were adniitted into. part1iership with lll% shares each under a new deed-Clau~e 6 continued use of tlze capital of Hindu Undivided Eamily standing in the account of the 1ninors' late father, free of intercst­ Jt'hethcr the share inco111c of three n1i11or sons frvnl the partnersbip firm liable to be assessed as tlte incon1e of Hindu Undivided Fa1nily ? One Yudhisthir Lal
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