https://www.taxtmi.com/caselaws?id=400952 The Court held that the amended provision effective from 1.10.1975 could not be applied retrospectively to income accrued on 10.8.1975 for the assessment year 1976-77. The law applicable for assessment is that in force in the assessment year, and amendments effective at the beginning of the relevant assessment year must govern, irrespective of the income accrual date within the accounting year. Therefore, the inclusion of the share income of the minor from the firm in the assessment was deemed incorrect in law. en-us Fri, 06 Nov 2020 00:00:00 +0530 Sat, 21 Nov 2020 18:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400952 The Court held that the amended provision effective from 1.10.1975 could not be applied retrospectively to income accrued on 10.8.1975 for the assessment year 1976-77. The law applicable for assessment is that in force in the assessment year, and amendments effective at the beginning of the relevant assessment year must govern, irrespective of the income accrual date within the accounting year. Therefore, the inclusion of the share income of the minor from the firm in the assessment was deemed incorrect in law. Case-Laws Income Tax Fri, 06 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400952