1994 (8) TMI 4 - HC - Income Tax

Summary

The High Court of Delhi ruled that the remuneration received by Shri Balak Ram, karta of the assessee-Hindu undivided family, was assessable in the assessee's hands. The Appellate Tribunal found that the remuneration paid to Balak Ram belonged to the Hindu undivided family based on the ownership of shares and the company's history. The court agreed with the Tribunal's conclusion, citing relevant Supreme Court precedent. The question was answered in favor of the Revenue.