https://www.taxtmi.com/caselaws?id=26325 The Court held that under section 64(1)(iii) of the Income-tax Act, income received by minor children from a firm, even after ceasing to be partners, must be considered as the income of the assessee. The Court upheld the Tribunal's decision that the share of profit accrued to the minors due to their prior partnership status, making it includable in the assessee's total income. The Court distinguished the case from prior decisions and ruled against the assessee, emphasizing the application of the statutory provision. en-us Wed, 19 Dec 1984 00:00:00 +0530 Thu, 04 Feb 2010 12:23:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26325 The Court held that under section 64(1)(iii) of the Income-tax Act, income received by minor children from a firm, even after ceasing to be partners, must be considered as the income of the assessee. The Court upheld the Tribunal's decision that the share of profit accrued to the minors due to their prior partnership status, making it includable in the assessee's total income. The Court distinguished the case from prior decisions and ruled against the assessee, emphasizing the application of the statutory provision. Case-Laws Income Tax Wed, 19 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26325