https://www.taxtmi.com/caselaws?id=17886 The High Court ruled in favor of the assessee, holding that the share income of the daughter-in-law from the two firms should not be included in the assessee's income under section 64(1)(vi) of the Income-tax Act, 1961. The court found that the daughter-in-law's share income arose from her capital contribution as a partner and not directly or indirectly from the gifts made by the assessee. The decision overturned the Tribunal's ruling, stating that there was no nexus between the gifts and the share income, ultimately benefiting the assessee in the assessment years in question. en-us Thu, 14 Mar 1996 00:00:00 +0530 Fri, 25 Sep 2009 13:45:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17886 The High Court ruled in favor of the assessee, holding that the share income of the daughter-in-law from the two firms should not be included in the assessee's income under section 64(1)(vi) of the Income-tax Act, 1961. The court found that the daughter-in-law's share income arose from her capital contribution as a partner and not directly or indirectly from the gifts made by the assessee. The decision overturned the Tribunal's ruling, stating that there was no nexus between the gifts and the share income, ultimately benefiting the assessee in the assessment years in question. Case-Laws Income Tax Thu, 14 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17886