Home Case Index All Cases Income Tax Income Tax + SC Income Tax - 1997 (3) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1997 (3) TMI 4 - SC - Income TaxAddition on account of interest in respect of the assessee's children and his wife - Assessee, MD of a company who was having deposit with the company, transfers it to the credit of the firm, in which his children are partners - Such a paper transaction intended merely to reduce the tax liability cannot be held to be a loan - addition of interest on deposit in respect of the assessee's children are justified
|