https://www.taxtmi.com/caselaws?id=176549 Suspicion arising from family connections, young age of the minors, unequal profit shares and financing arrangements was insufficient to treat the minors' shares in the second firm as the assessee's income. The record did not show that the assessee participated in the business of the second firm or that the minors were mere nominees for him, and the affidavits and books did not establish taxable ownership in his hands. Section 16(3) applied only where the assessee was a partner in the firm concerned, which he was not in the second firm. The inclusion of the minors' income in the assessee's total income was therefore unsupported by evidence. en-us Tue, 06 Apr 1943 00:00:00 +0630 Thu, 24 Dec 2015 14:12:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176549 Suspicion arising from family connections, young age of the minors, unequal profit shares and financing arrangements was insufficient to treat the minors' shares in the second firm as the assessee's income. The record did not show that the assessee participated in the business of the second firm or that the minors were mere nominees for him, and the affidavits and books did not establish taxable ownership in his hands. Section 16(3) applied only where the assessee was a partner in the firm concerned, which he was not in the second firm. The inclusion of the minors' income in the assessee's total income was therefore unsupported by evidence. Case-Laws Income Tax Tue, 06 Apr 1943 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=176549