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The High Court of Madras ruled that for the assessment year 1975-76, the income of minor children from a firm could not be assessed in the hands of the father. However, for the succeeding assessment year 1976-77, the income of minor children could be assessed in the father's hands, even if the father was not a partner of the firm. The Tribunal's decision for each year was based on the relevant provisions of Section 64 of the Income-tax Act.
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