1987 (3) TMI 40 - HC - Income Tax

Summary

The High Court of Andhra Pradesh ruled that interest income accrued on the minor's capital account is includible in the assessee's taxable income under section 64(1) of the Income-tax Act. The amendment in 1975 did not change this. The Tribunal's decision to include the income was upheld. The judgment was in favor of the Revenue.