https://www.taxtmi.com/caselaws?id=8364 The High Court ruled in favor of the assessee, holding that the share income of the minor son from a partnership firm should not be included in the total income of the father under section 64(iv) of the Income-tax Act, 1961. The court found that there was no direct or proximate connection between the assets gifted by the father to the minor son and the income earned by the minor, following principles established in a previous Supreme Court judgment under the Income-tax Act, 1922. Consequently, the court ordered the Commissioner of Income-tax to pay the costs of the reference to the assessee. en-us Fri, 11 Jun 1971 00:00:00 +0530 Fri, 10 Apr 2009 17:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8364 The High Court ruled in favor of the assessee, holding that the share income of the minor son from a partnership firm should not be included in the total income of the father under section 64(iv) of the Income-tax Act, 1961. The court found that there was no direct or proximate connection between the assets gifted by the father to the minor son and the income earned by the minor, following principles established in a previous Supreme Court judgment under the Income-tax Act, 1922. Consequently, the court ordered the Commissioner of Income-tax to pay the costs of the reference to the assessee. Case-Laws Income Tax Fri, 11 Jun 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8364