https://www.taxtmi.com/caselaws?id=39899 The Supreme Court affirmed the validity of the provisions of section 16(3)(a)(i) and (ii) of the Income-tax Act, dismissing the challenge against the legislative powers of Parliament. It held that interest on accumulated profits of the appellant's wife and minor sons should be included in his income as it indirectly arose from their partnership status, aligning with the Income-tax Act. The Court concluded that the interest earned related to the partnership, justifying its inclusion in the appellant's income for tax assessment purposes. Consequently, the appeal was dismissed, upholding the inclusion of interest in the appellant's income. en-us Tue, 04 Oct 1966 00:00:00 +0530 Wed, 13 Aug 2014 18:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39899 The Supreme Court affirmed the validity of the provisions of section 16(3)(a)(i) and (ii) of the Income-tax Act, dismissing the challenge against the legislative powers of Parliament. It held that interest on accumulated profits of the appellant's wife and minor sons should be included in his income as it indirectly arose from their partnership status, aligning with the Income-tax Act. The Court concluded that the interest earned related to the partnership, justifying its inclusion in the appellant's income for tax assessment purposes. Consequently, the appeal was dismissed, upholding the inclusion of interest in the appellant's income. Case-Laws Income Tax Tue, 04 Oct 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39899