https://www.taxtmi.com/caselaws?id=13823 The High Court affirmed the interpretation of section 64(1)(iii) of the Income-tax Act, 1961, stating that income from a minor child's partnership benefits is includible in the parent's total income upon admission to such benefits, irrespective of the parent's partnership status. The court upheld the inclusion of the minor's income in the parent's assessment, emphasizing the amended provision's applicability. Additionally, the court ruled in favor of the Revenue, concluding that interest on accumulated profits of the minor in the firm should be taxed in the parent's income, distinguishing between income from partnership deeds and independent contracts. en-us Thu, 04 Jan 2001 00:00:00 +0530 Fri, 03 Jul 2009 11:16:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13823 The High Court affirmed the interpretation of section 64(1)(iii) of the Income-tax Act, 1961, stating that income from a minor child's partnership benefits is includible in the parent's total income upon admission to such benefits, irrespective of the parent's partnership status. The court upheld the inclusion of the minor's income in the parent's assessment, emphasizing the amended provision's applicability. Additionally, the court ruled in favor of the Revenue, concluding that interest on accumulated profits of the minor in the firm should be taxed in the parent's income, distinguishing between income from partnership deeds and independent contracts. Case-Laws Income Tax Thu, 04 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13823