1989 (2) TMI 67 - HC - Income Tax

Summary

The High Court of Madhya Pradesh upheld the Income-tax Appellate Tribunal's decision to include the minor son's share income in the mother's total income, citing section 64(1)(iii) of the Income-tax Act, 1961. The court ruled that the source of investment in the firm by the minor son did not exempt the income from being taxed in the mother's hands. The appeal was dismissed, and each party was ordered to bear their own costs.