1979 (11) TMI 161 - AT - Income Tax

Summary

The ITAT Madras-C allowed the departmental appeal for the asst. yr. 1977-78. The minor's interest income from deposits in partnership firms was held to be connected to his admission to benefits of the partnership, based on partnership deed clauses. The AAC decision was reversed, and the interest income was included in the assessment. (Case citation: 1979 (11) TMI 161 - ITAT MADRAS-C)