Income Tax: Minor sons' share income from partnership firm taxable with parent under section 64(1)(iii)

The High Court of Madras held that the share income of minor sons from a partnership firm should be included in the hands of the parent under section 64(1)(iii) of the Income-tax Act, 1961, favoring the Revenue over the assessee.

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The High Court of Madras ruled that share income of minor sons from a partnership firm must be included in the hands of the parent under section 64(1)(iii) of the Income-tax Act, 1961. The decision was based on a previous case and favored the Revenue over the assessee.

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