Balasubrahmanyan, J.

This is a case stated by the Income-tax Appellate Tribunal. It at once raises a point of partnership law and a point of Hindu Law.

2. The assessee who figures in this reference is an individual, being assessed as such on his separate income. He is the kartha of a Hindu undivided family, the other members being his wife, two sons and three daughters. The assessee was a partner in two partnership firms called ‘Cuddalore Palaycot Co. and ‘Kasthuri Palayacot Co. ‘He had 3/28th share in one firm, and a 3/17th share in the other firm. On 20th October, 1970 (sic) he executed a deed of declaration under which he impressed one-half of his partnership interests with the character of joint family property. He further declared that he would thenceforward hold one-half of his interest in the two firms only in his capacity as kartha of his joint family. He then claimed before the Income-tax Officer that the shares of profits from the two firms, namely, 3/28th and 3/17th, must be taken to consist of two halves, one-half alone to be included in his personal assessment, the other half to be considered in the hands of the joint family.

3. The Income-tax Officer rejected