1979 (10) TMI 107 - AT - Income Tax

Summary

The Appellate Tribunal ITAT Gauhati heard two appeals by different assessees regarding the inclusion of interest income received by minors in taxable income. The AAC directed the ITO not to include the interest income, citing lack of justification under s. 64(i)(iii) of the Act. The AAC's decision was upheld as no material linked the partnership benefits with the minors' income. Both appeals were dismissed. (Case: 1979 (10) TMI 107 - ITAT Gauhati)