https://www.taxtmi.com/caselaws?id=276559 The court held that the interest earned by the minor sons of the assessee from their capital contributions in the partnership firm should be included in the total income of the assessee under section 16(3)(a)(ii) of the Indian Income Tax Act. The Appellate Assistant Commissioner initially ruled in favor of the assessee, but the Appellate Tribunal reversed this decision, stating that the interest should be included in the father's total income as it directly resulted from the minors' admission to the partnership benefits. The court emphasized strict construction of the law and found that the interest was linked to the partnership benefits, leading to the inclusion of the income in the father's total income. en-us Thu, 18 Feb 1960 00:00:00 +0530 Tue, 13 Nov 2018 17:56:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276559 The court held that the interest earned by the minor sons of the assessee from their capital contributions in the partnership firm should be included in the total income of the assessee under section 16(3)(a)(ii) of the Indian Income Tax Act. The Appellate Assistant Commissioner initially ruled in favor of the assessee, but the Appellate Tribunal reversed this decision, stating that the interest should be included in the father's total income as it directly resulted from the minors' admission to the partnership benefits. The court emphasized strict construction of the law and found that the interest was linked to the partnership benefits, leading to the inclusion of the income in the father's total income. Case-Laws Income Tax Thu, 18 Feb 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276559