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Income was taxable in capacity of individuals though investment in firm was made out of HUF funds by its member

March 14, 2019[2019] 103 62 (Madras)/[2019] 410 ITR 230 (Madras)

IT: Where Assessing officer computed assessee's income from running a bus on estimate basis, in view of fact that assessee's son was also plying a bus and, in whose case, deduction of certain expenses was allowed while computing income from plying bus, in absence of any change in circumstances, Tribunal should have adopted same method of computation of income in assessee's case also

IT: Where assessee became a partner in a firm and investment in partnership firm was made by assessee out of HUF funds, share income from said firm would be liable to tax in hands of assessee in capacity of individual

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