https://www.taxtmi.com/caselaws?id=60170 Interest earned on a minor's capital balance in a partnership firm, where the balance represented accumulated share of profits, was treated as income arising indirectly from admission to the benefits of partnership and was includible in the assessee's total income under section 64(1)(iii). The provision was read broadly to cover not only the minor's share income but also interest generated on such accumulated partnership capital, while interest on a distinct loan or deposit was noted as materially different. The clubbing issue was therefore decided against the assessee. en-us Fri, 30 Jan 1981 00:00:00 +0530 Tue, 04 Jan 2011 11:18:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60170 Interest earned on a minor's capital balance in a partnership firm, where the balance represented accumulated share of profits, was treated as income arising indirectly from admission to the benefits of partnership and was includible in the assessee's total income under section 64(1)(iii). The provision was read broadly to cover not only the minor's share income but also interest generated on such accumulated partnership capital, while interest on a distinct loan or deposit was noted as materially different. The clubbing issue was therefore decided against the assessee. Case-Laws Income Tax Fri, 30 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60170