https://www.taxtmi.com/caselaws?id=38383 Interest credited to minors' partnership accounts was taxably linked to admission to the benefits of the firm where the original amounts represented capital brought into the partnership on partition; the causal connection with that admission made the interest includible in the assessee's income. A later partnership deed, however, treated money belonging to minors brought into or retained in the firm as deposits carrying interest. Interest referable to sums covered by that later arrangement was not treated as arising merely from admission to partnership benefits, so taxability depended on apportionment between the original capital contribution and the later deposited or retained sums. en-us Wed, 01 Dec 1976 00:00:00 +0530 Mon, 05 Apr 2010 18:28:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38383 Interest credited to minors' partnership accounts was taxably linked to admission to the benefits of the firm where the original amounts represented capital brought into the partnership on partition; the causal connection with that admission made the interest includible in the assessee's income. A later partnership deed, however, treated money belonging to minors brought into or retained in the firm as deposits carrying interest. Interest referable to sums covered by that later arrangement was not treated as arising merely from admission to partnership benefits, so taxability depended on apportionment between the original capital contribution and the later deposited or retained sums. Case-Laws Income Tax Wed, 01 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38383