https://www.taxtmi.com/caselaws?id=56804 The court ruled in favor of the revenue, deciding that the interest income received by minors from a partnership firm should be included in their father's income under Section 64(1)(iii) of the Income-tax Act. The court found that the minors' contributions were considered capital, not deposits, and therefore the interest income was linked to their admission to the benefits of the partnership. As a result, the appeal was resolved in favor of the revenue, overturning the previous decision and reinstating the inclusion of the interest income in the father's income. en-us Wed, 13 Oct 1982 00:00:00 +0530 Mon, 06 Dec 2010 17:39:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56804 The court ruled in favor of the revenue, deciding that the interest income received by minors from a partnership firm should be included in their father's income under Section 64(1)(iii) of the Income-tax Act. The court found that the minors' contributions were considered capital, not deposits, and therefore the interest income was linked to their admission to the benefits of the partnership. As a result, the appeal was resolved in favor of the revenue, overturning the previous decision and reinstating the inclusion of the interest income in the father's income. Case-Laws Income Tax Wed, 13 Oct 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56804