1995 (1) TMI 10 - HC - Income Tax

Summary

The High Court of Patna decided on two tax case references referred by the Income-tax Appellate Tribunal regarding the inclusion of minor sons' share income from a partnership-firm in the assessee's income. The Tribunal ruled in favor of the assessee based on precedents, including a Supreme Court judgment. The High Court upheld the Tribunal's decision, citing the Supreme Court's stance on a similar issue. The common question was answered in favor of the assessee, following the Supreme Court's precedent.