https://www.taxtmi.com/caselaws?id=65121 The Tribunal dismissed the appeal, affirming that the interest payable on deposits by minors should not be included in the assessee's assessment under section 64(1)(iii) of the Act. The Tribunal held that the minors were not obligated to contribute capital, and the partnership deeds indicated that their investments were not considered capital. Previous court decisions were cited to support the ruling, distinguishing cases where interest was earned on accumulated profits from the present case where interest was paid on deposits from gifts received by the minors. en-us Tue, 27 May 1980 00:00:00 +0530 Sat, 12 Feb 2011 14:27:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65121 The Tribunal dismissed the appeal, affirming that the interest payable on deposits by minors should not be included in the assessee's assessment under section 64(1)(iii) of the Act. The Tribunal held that the minors were not obligated to contribute capital, and the partnership deeds indicated that their investments were not considered capital. Previous court decisions were cited to support the ruling, distinguishing cases where interest was earned on accumulated profits from the present case where interest was paid on deposits from gifts received by the minors. Case-Laws Income Tax Tue, 27 May 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65121