TMI Blog1994 (9) TMI 4X X X X Extracts X X X X X X X X Extracts X X X X ..... nd Co., cannot be included in the income of the assessee - - - - - Dated:- 29-9-1994 - S. P. BHARUCHA., S. C. SEN. and K. S. PARIPOORNAN. JUDGMENT The first two appeals arise out of a common judgment. The second two appeals arise out of orders that follow the common judgment. The respondents in the two sets of appeals are brothers, the kartas of their joint Hindu families and assessees a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deed dated November 12, 1959. Jayantilal had a share of 5 annas in a rupee in the said firm. By an agreement dated October 29, 1962, the said firm was reconstituted and Suresh Kumar and Ashok Kumar, the two minor sons of Jayantilal, were given benefits in the said firm. Thus, the share of Jayantilal in the said firm was reduced to 2 annas in a rupee and Suresh Kumar and Ashok Kumar were given the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... greed to a smaller share in the said firm. It was not necessary that there should be a partial partition or gift because the same could be inferred from the proven facts. There was no evidence to show that the minors were the benamidars of the Hindu undivided family or that the beneficial owner of the shares of the minors was the Hindu undivided family. In these circumstances, there was no justifi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Tribunal had found as a fact that the minors were not benamidars of the Hindu undivided family and the only ground on which the Revenue could have succeeded was that the minors represented the Hindu undivided family in the firm. The question that was referred to the High Court was, thus, answered in the affirmative and in favour of the assessees. What is most relevant to note is that the Tribu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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