https://www.taxtmi.com/caselaws?id=49294 The High Court held that the guardians should be taxed on the separate income of each minor, as they received the shares of the minors in the profit of the business individually. The court concluded that section 40 of the Act applied, requiring the assessment of the guardians treating the minors as constituting a Hindu undivided family. The appeal was allowed, and the court directed the appellant to receive costs. en-us Wed, 17 Nov 1965 00:00:00 +0530 Tue, 19 Aug 2014 08:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49294 The High Court held that the guardians should be taxed on the separate income of each minor, as they received the shares of the minors in the profit of the business individually. The court concluded that section 40 of the Act applied, requiring the assessment of the guardians treating the minors as constituting a Hindu undivided family. The appeal was allowed, and the court directed the appellant to receive costs. Case-Laws Income Tax Wed, 17 Nov 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49294