https://www.taxtmi.com/caselaws?id=37406 A partner's share of firm income exempt under section 14(2)(aa) of the Indian Income-tax Act, 1922 could still be included in total income under section 16(1)(a), but it was excluded from "earned income" because section 2(6AA) expressly left out income exempt under section 14(2). As section 2(6) of the Finance Act, 1960 adopted the same meaning of earned income, the exempt share was treated as unearned income for special surcharge purposes. The amount therefore remained part of total income yet attracted special surcharge, and the reference was answered against the assessee. en-us Thu, 01 Dec 1977 00:00:00 +0530 Mon, 29 Mar 2010 14:07:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37406 A partner's share of firm income exempt under section 14(2)(aa) of the Indian Income-tax Act, 1922 could still be included in total income under section 16(1)(a), but it was excluded from "earned income" because section 2(6AA) expressly left out income exempt under section 14(2). As section 2(6) of the Finance Act, 1960 adopted the same meaning of earned income, the exempt share was treated as unearned income for special surcharge purposes. The amount therefore remained part of total income yet attracted special surcharge, and the reference was answered against the assessee. Case-Laws Income Tax Thu, 01 Dec 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37406