1983 (4) TMI 40

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....56(1) of the I.T. Act, 1961 (hereinafter referred to as " the Act "), the Income-tax Appellate Tribunal, Indore Bench, has referred the following questions of law to this court for its opinion : "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in concluding that the share income or interest income of the minors can be clubbed in the hands of the assessee u/....

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....ons of the assessee on the amounts standing in their capital account with the firm, M/s. Pramod Kumar Narendrakumar & Brothers, of which the minor sons of the assessee were partners, was includible in the income of the assessee by virtue of the provisions of s. 64(1)(iii) of the Act. On appeal, the AAC affirmed the finding of the ITO. On further appeal, the Tribunal rejected the contention advance....

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....the benefits of the partnership, in the income of the assessee, who was their father. The Tribunal also rejected the contention advanced on behalf of the assessee that the assessee could claim the benefit of the advance tax paid by the minors on the amount of interest earned by them. In this view of the matter, the Tribunal dismissed the appeal preferred by the assessee. Aggrieved by the order pas....