TMI Blog1969 (2) TMI 25X X X X Extracts X X X X X X X X Extracts X X X X ..... e was unearned income and liable to be assessed as such - - - - - Dated:- 20-2-1969 - Judge(s) : RAMAPRASADA RAO., VEERASWAMI. JUDGMENT The judgment of the court was delivered by VEERASWAMI J.-This is a consolidated reference in respect of the assessment year 1961-62. One S. RM. S. Narayanan Chettiar acted as the guardian of his four minor sons in carrying on money-lending business in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d not be regarded as derived from a business carried on by them. At the instance of the assessee we have in the reference the following questions : " Whether, on the facts and in the circumstances of the case : (1) the Appellate Tribunal was right in law in holding that the income of the assessees was liable to be assessed under section 12 and not under section 10 of the Income-tax Act, 1922 ? ..... X X X X Extracts X X X X X X X X Extracts X X X X
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