1992 (10) TMI 16 - HC - Income Tax

Summary

The High Court of Delhi ruled in favor of the assessee, Jagdish Chand, regarding the assessment years 1972-73 and 1975-76. The court held that the share income should be assessed in the hands of the Hindu undivided family based on previous decisions. The Tribunal upheld the assessee's contention and directed the deletion of the income from Jagdish Chand's individual capacity. The court's decision was influenced by previous rulings that allowed a partner's share income to be considered joint family property.