https://www.taxtmi.com/caselaws?id=10173 The High Court ruled in favor of the Revenue, stating that income earned by minors in a firm should be included in the assessee's total income under section 64(1)(iii) of the Income-tax Act, 1961. The court held that any income arising to a minor child from the benefits of a partnership firm must be included in the individual's total income, including profits and interest credited to minors. The decision overturned the Tribunal's exclusion of such income and was made without costs imposed. en-us Tue, 03 Aug 2004 00:00:00 +0530 Thu, 09 Jul 2009 19:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10173 The High Court ruled in favor of the Revenue, stating that income earned by minors in a firm should be included in the assessee's total income under section 64(1)(iii) of the Income-tax Act, 1961. The court held that any income arising to a minor child from the benefits of a partnership firm must be included in the individual's total income, including profits and interest credited to minors. The decision overturned the Tribunal's exclusion of such income and was made without costs imposed. Case-Laws Income Tax Tue, 03 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10173