CWM_LEVEL_2 practice question 17 of 35
Section B (2 Mark) If after the partition of an HUF 2 members became partners in 3 firms on behalf of their respective HUFs and they also become partners in a fourth firm. The funds were obtained by means of loans from the other 3 firms. The share incomes of the members from the fourth firm were assessable as their individual income only.
Full set: 1,259 questionsCorrect Answer:
A. TRUE
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