https://www.taxtmi.com/caselaws?id=60174 The Appellate Tribunal upheld the decision that interest income paid to minor sons from partnerships should be included in the parent's income under section 64(1)(iii). The Tribunal found that the interest payments were on capital contributions and profits accumulation, not unrelated deposits, thus affirming their inclusion in the parent's income. The interpretation of partnership deeds supported this conclusion, emphasizing the capital nature of the funds. Consequently, the appeal by the assessee was dismissed, confirming the inclusion of interest income in the parent's tax liability. en-us Sat, 31 Jan 1981 00:00:00 +0530 Tue, 04 Jan 2011 11:24:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60174 The Appellate Tribunal upheld the decision that interest income paid to minor sons from partnerships should be included in the parent's income under section 64(1)(iii). The Tribunal found that the interest payments were on capital contributions and profits accumulation, not unrelated deposits, thus affirming their inclusion in the parent's income. The interpretation of partnership deeds supported this conclusion, emphasizing the capital nature of the funds. Consequently, the appeal by the assessee was dismissed, confirming the inclusion of interest income in the parent's tax liability. Case-Laws Income Tax Sat, 31 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60174