https://www.taxtmi.com/caselaws?id=25459 The High Court of Madhya Pradesh ruled against the assessee in a case concerning the interpretation of section 64(1)(iii) of the Income-tax Act regarding the clubbing of income earned by a minor on capital invested in a partnership firm. The Court held that income arising to a minor child from a partnership firm must be included in the total income of the assessee, regardless of the source of investment in the firm by the minor. The Court concluded that if there were independent investments by the minors not derived from the parent, the interest earned on such capital would not be taxed in the hands of the parent under the Act. en-us Thu, 25 Jun 1987 00:00:00 +0530 Thu, 28 Jan 2010 17:02:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25459 The High Court of Madhya Pradesh ruled against the assessee in a case concerning the interpretation of section 64(1)(iii) of the Income-tax Act regarding the clubbing of income earned by a minor on capital invested in a partnership firm. The Court held that income arising to a minor child from a partnership firm must be included in the total income of the assessee, regardless of the source of investment in the firm by the minor. The Court concluded that if there were independent investments by the minors not derived from the parent, the interest earned on such capital would not be taxed in the hands of the parent under the Act. Case-Laws Income Tax Thu, 25 Jun 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25459