https://www.taxtmi.com/caselaws?id=276557 Interest credited to minors admitted to the benefits of a partnership is treated as income arising indirectly from that admission when the payments derive from capital invested (or loans treated as investments) by the minors; the critical test is whether the receipt is connected, directly or indirectly, with admission to partnership benefits. Characterisation of the minors' payments as capital contribution or loan is a question of fact, and factual findings that the amounts were capital investments determine that the interest is includible in the father's total income under the applicable tax attribution rule. en-us Wed, 18 Dec 1963 00:00:00 +0530 Tue, 13 Nov 2018 17:50:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276557 Interest credited to minors admitted to the benefits of a partnership is treated as income arising indirectly from that admission when the payments derive from capital invested (or loans treated as investments) by the minors; the critical test is whether the receipt is connected, directly or indirectly, with admission to partnership benefits. Characterisation of the minors' payments as capital contribution or loan is a question of fact, and factual findings that the amounts were capital investments determine that the interest is includible in the father's total income under the applicable tax attribution rule. Case-Laws Income Tax Wed, 18 Dec 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276557