1988 (8) TMI 96 - HC - Income Tax

Summary

The High Court of Madhya Pradesh held that income earned by a minor from a partnership firm, to which he was admitted, should be included in the total income of the assessee under section 64(1)(iii) of the Income-tax Act, 1961. The court's decision was based on a previous ruling and the reference under section 256(1) of the Act. The court's answer to the question was affirmative, ruling against the assessee.