Commissioner Of Income-Tax vs Ravaban B. Mistry

The Supreme Court held that the income of the husband, as the karta of the Hindu undivided family in the firm of Morvi Time Company, is not liable to be included in the income of the assessee under Section 64 of the Income-tax Act, 1961. The Court referenced the Constitution Bench decision in CIT v. Om Prakash, which established that such income is not taxable in the hands of the wife. Consequently, the appeal by the Revenue was dismissed with no order as to costs.