1975 (5) TMI 25

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....of Rs. 1,020 the interest of Shri Sanjay Kumar, the minor son of the assessee which was added in the income of the assessee by the ITO without properly considering the provisions of s. 64 of the IT Act, 1961. 2. Shri Sanjay Kumar the minor son of the assessee was a partner admitted to the benefits of partnership in a firm Ramji Lal Rajendra Preshad alongwith his father who was also a partner th....

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....opies of account of Shri Sanjay Kumar for the asst. yr. 1968-69 to show that a sum of Rs. 37,608 was received by him which represented half share of Rs. 75,216 as per will of Smt. Asharfi Devi from the books of Jai Parkash Ravinder Nath A copy of account of Smt. Asharfi Devi in the books of Jai Prakash Ravinder Nath has also been filed. According to him, it was out of this amount that a sum of Rs,....

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....y because the income of the minor had been clubbed in the hands of the assessee by applying the provisions of s. 64(1)(ii), the same had arisen to the minor on account of his admission to the benefits of the partnership, the interest cannot, be added in the hands o the assessee as the same did not arise because of his admission as partner to the benefits of the partnership in the firm as he could ....

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....e share of profit of a partner would also include the interest, if any received by him. 4. In our opinion, there is force in the submission of the assessee's Representative. The assessee has shown from the copies of various accounts how this amount which came to be possessed by Sanjay Kumar (as per will of Smt. Ashrafi Devi on transfer of half the amount standing in her credit in a certain firm....