https://www.taxtmi.com/caselaws?id=20263 The High Court affirmed the Tribunal's decision that the income of the assessee's wife was includible in the assessee's income u/s 64(1)(ii) as she did not possess any technical or professional qualifications. The court held that the term "concern" in section 64(1)(ii) includes both business and professional concerns, and "substantial interest" encompasses having 100% interest in proprietary concerns. The interpretation of "technical or professional qualifications" required specific knowledge and experience, and both conditions in the proviso to section 64(1)(ii) must be met for income attribution. Ultimately, the outcome favored the Revenue over the assessee. en-us Tue, 13 Jul 1993 00:00:00 +0530 Mon, 24 Feb 2025 15:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20263 The High Court affirmed the Tribunal's decision that the income of the assessee's wife was includible in the assessee's income u/s 64(1)(ii) as she did not possess any technical or professional qualifications. The court held that the term "concern" in section 64(1)(ii) includes both business and professional concerns, and "substantial interest" encompasses having 100% interest in proprietary concerns. The interpretation of "technical or professional qualifications" required specific knowledge and experience, and both conditions in the proviso to section 64(1)(ii) must be met for income attribution. Ultimately, the outcome favored the Revenue over the assessee. Case-Laws Income Tax Tue, 13 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20263