1985 (1) TMI 77 - AT - Income Tax

Summary

The judgment involves a dispute regarding the treatment of monthly allowance received by Motilal from a partnership firm as income of Motilal (HUF) or Motilal (individual). The Appellate Tribunal held that the allowance was to be treated as the individual income of Motilal, the Karta of his HUF, due to the terms of the partnership deed. The Tribunal referred to previous decisions and upheld the Income Tax Officer's assessment, setting aside the orders of the Appellate Commissioner. Both appeals by the department were allowed.