1987 (1) TMI 58

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....ed in these two matters, they are being disposed of by a common judgment. The referred question, which is at the instance of the Revenue, reads thus: " Whether, on the facts and in the circumstances of the case, in determining the income of the minor child of the assessee by way of a share in the firm which is includible in the assessment of the assessee under section 64(ii), such income of the m....

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.... minor children and the heirs of another deceased partner, Dwarkadas Daga, consisted of his wife and three minor children. The shares of the minors in the firm which were at a loss in the earlier assessment year were carried forward and set off to reduce the share of the minors in the income of the firm in the later assessment year by the Income-tax Appellate Tribunal, considering the provisions o....