https://www.taxtmi.com/caselaws?id=165174 Interest earned by minor sons on amounts voluntarily left with a firm was held not to fall within the father's clubbing liability under Section 16(3)(a)(ii) of the Indian Income-tax Act. The provision applies only where a minor's income arises directly or indirectly from admission to the benefits of a partnership; here, the partnership deed merely provided for interest on credit balances and did not require the minors to keep deposits with the firm or obligate the firm to retain them. Because the income arose from voluntary deposits, and the taxing fiction had to be strictly construed, it could not be extended to cover such interest. The income was therefore not includible in the assessee-father's total income. en-us Fri, 19 Mar 1954 00:00:00 +0530 Fri, 16 May 2014 11:40:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165174 Interest earned by minor sons on amounts voluntarily left with a firm was held not to fall within the father's clubbing liability under Section 16(3)(a)(ii) of the Indian Income-tax Act. The provision applies only where a minor's income arises directly or indirectly from admission to the benefits of a partnership; here, the partnership deed merely provided for interest on credit balances and did not require the minors to keep deposits with the firm or obligate the firm to retain them. Because the income arose from voluntary deposits, and the taxing fiction had to be strictly construed, it could not be extended to cover such interest. The income was therefore not includible in the assessee-father's total income. Case-Laws Income Tax Fri, 19 Mar 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165174