https://www.taxtmi.com/caselaws?id=16568 The court held that the interest earned by a minor in a partnership firm, where she was admitted to the benefits of the partnership, should be considered as income attributable to the benefit of the partnership under section 64(1)(iii) of the Act. The court emphasized that any benefit resulting from the minor's admission to the partnership must be included in the parent's total income. The court rejected the argument that the funds contributed by the minor were received as gifts from other sources, clarifying that the source of funds used by the minor was irrelevant as long as the benefit derived was a direct consequence of her admission to the partnership. en-us Wed, 11 Feb 1998 00:00:00 +0530 Tue, 08 Sep 2009 15:39:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16568 The court held that the interest earned by a minor in a partnership firm, where she was admitted to the benefits of the partnership, should be considered as income attributable to the benefit of the partnership under section 64(1)(iii) of the Act. The court emphasized that any benefit resulting from the minor's admission to the partnership must be included in the parent's total income. The court rejected the argument that the funds contributed by the minor were received as gifts from other sources, clarifying that the source of funds used by the minor was irrelevant as long as the benefit derived was a direct consequence of her admission to the partnership. Case-Laws Income Tax Wed, 11 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16568