1993 (8) TMI 59 - HC - Income Tax

Summary

The High Court of Madras ruled that the income from a partnership in Petroleum Products should only be assessed as the share income of the assessee family, not the entire income. The court found that the partnership formed by the Hindu undivided family was valid, and only the share income of the assessee should be considered for tax purposes. The judgment favored the assessee and no costs were awarded. (Case citation: 1993 (8) TMI 59 - MADRAS High Court)