https://www.taxtmi.com/caselaws?id=37707 The court held that speculation income earned in the names of minors should be taxed as belonging to the assessee as there was no evidence that the minors actually benefitted from the business. The High Court affirmed this decision, emphasizing that the assessee conducted the business on his own account using the minors' names. Regarding the inclusion of Rs. 1,800 as income of the assessee for using a company's motor car, the High Court ruled in favor of the assessee, stating that the notional income from the motor car should not be considered a perquisite or benefit. en-us Wed, 21 Jun 1978 00:00:00 +0530 Wed, 31 Mar 2010 15:44:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37707 The court held that speculation income earned in the names of minors should be taxed as belonging to the assessee as there was no evidence that the minors actually benefitted from the business. The High Court affirmed this decision, emphasizing that the assessee conducted the business on his own account using the minors' names. Regarding the inclusion of Rs. 1,800 as income of the assessee for using a company's motor car, the High Court ruled in favor of the assessee, stating that the notional income from the motor car should not be considered a perquisite or benefit. Case-Laws Income Tax Wed, 21 Jun 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37707