https://www.taxtmi.com/caselaws?id=8621 The High Court held that the income derived from the partnership business by the assessee was considered earned income under section 2(7)(iii)(b) of the Finance (No. 2) Act, 1962. The court interpreted "actively engaged in the conduct of the business" broadly, encompassing activities that contribute to the business's growth and development, not just daily management. The assessee, who was sent abroad to acquire technical knowledge beneficial to the firm, was deemed to be actively engaged in the business. The Tribunal's decision to treat the income as earned income was upheld, and the Commissioner was directed to bear the costs of the reference to the assessee. en-us Thu, 13 Jul 1972 00:00:00 +0530 Fri, 08 May 2009 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8621 The High Court held that the income derived from the partnership business by the assessee was considered earned income under section 2(7)(iii)(b) of the Finance (No. 2) Act, 1962. The court interpreted "actively engaged in the conduct of the business" broadly, encompassing activities that contribute to the business's growth and development, not just daily management. The assessee, who was sent abroad to acquire technical knowledge beneficial to the firm, was deemed to be actively engaged in the business. The Tribunal's decision to treat the income as earned income was upheld, and the Commissioner was directed to bear the costs of the reference to the assessee. Case-Laws Income Tax Thu, 13 Jul 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8621