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Issues: Whether the share income of a minor admitted to the benefits of partnership in a firm could be included in the hands of a Hindu undivided family under section 64(1)(iii) of the Income-tax Act, 1961.
Analysis: Section 64(1)(iii) applies where the minor child is of an individual assessee. It does not extend to a case where the assessee is a Hindu undivided family. As the assessee was a Hindu undivided family and not an individual, the minor's share income could not be clubbed in its hands.
Conclusion: The Tribunal was justified in excluding the minor's share income from the hands of the assessee Hindu undivided family. The reference was answered against the Revenue and in favour of the assessee.
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