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2006 (8) TMI 124 - HC - Income TaxComputing the total income - "Whether Tribunal was right in law in holding that the share income of the minors who are beneficiaries of a trust which was a partner in a registered firm cannot be clubbed in the hands of the assessee under section 64(1)(iii) of the Income-tax Act?" - To attract clause (iii) of section 64(1) of the Income-tax Act read with Explanation 2A of the same Act, unless it is found that the minor, for whose benefit the income is available, is shown to have an absolute right of disposal in praesenti over the same, it cannot be included in the income of the individual in computing his total income. In other words, if such income is to reach the hands of the minor/beneficiary only on attaining majority, then it cannot be included in the income of the individual in computing his total income.
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