2001 (6) TMI 43

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.....-The common question referred relates to the assessment years 1975-76 and 1976-77. The assessee, in those years, had no income from any source. However, his two minor sons derived income by virtue of their admission to the benefits of a partnership firm, of which the assessee also was a partner, representing the joint family of which he was the karta. There was no separate assessment of the asses....

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....mended provision that is applicable and, therefore, for the assessment year 1975-76, the income of the minor children could not have been assessed in the hands of the father. The decision of the Tribunal as regards that year, is therefore, correct. However, for the succeeding assessment year 1976-77, the amended provision would apply. It is no longer necessary for the parent also to be a partner o....