https://www.taxtmi.com/caselaws?id=25896 The High Court of Andhra Pradesh ruled in favor of the Revenue and against the assessee in a case involving the interpretation of section 64(2) of the Income-tax Act, 1961. The Court held that the income derived from a partnership firm, where a sum was converted into a joint family asset and invested in the firm, should be included in the individual assessment of the assessee. The Court emphasized the direct nexus between the investment and the income, distinguishing the case from a Supreme Court decision cited by the assessee. en-us Tue, 03 Mar 1987 00:00:00 +0530 Mon, 01 Feb 2010 14:54:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25896 The High Court of Andhra Pradesh ruled in favor of the Revenue and against the assessee in a case involving the interpretation of section 64(2) of the Income-tax Act, 1961. The Court held that the income derived from a partnership firm, where a sum was converted into a joint family asset and invested in the firm, should be included in the individual assessment of the assessee. The Court emphasized the direct nexus between the investment and the income, distinguishing the case from a Supreme Court decision cited by the assessee. Case-Laws Income Tax Tue, 03 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25896