https://www.taxtmi.com/caselaws?id=25024 The High Court held that only income spent on minors annually should be included in the parent's income under section 64(1)(vii) of the Income-tax Act, 1961, while accumulated income for payment upon attaining majority need not be included. The court emphasized that the deferred benefit to the minor should be within the minority period for it to be considered a benefit. The decision favored the assessee, ruling against the Revenue's contention that any immediate or deferred benefit provided to the minor should lead to inclusion in the parent's income. en-us Wed, 18 Nov 1987 00:00:00 +0530 Sat, 23 Jan 2010 18:27:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25024 The High Court held that only income spent on minors annually should be included in the parent's income under section 64(1)(vii) of the Income-tax Act, 1961, while accumulated income for payment upon attaining majority need not be included. The court emphasized that the deferred benefit to the minor should be within the minority period for it to be considered a benefit. The decision favored the assessee, ruling against the Revenue's contention that any immediate or deferred benefit provided to the minor should lead to inclusion in the parent's income. Case-Laws Income Tax Wed, 18 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25024