1979 (10) TMI 107

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..... of the Revenue are directed against the orders of the AAC by which he has directed the ITO not to include the interest income received by the minors in the computation of the taxable incomes of the assessees and that the AAC should have found and held that the interest received by the minors arose from the admission of the minor sons to the benefits of partnership and was rightly includible under .....

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..... s are having various balance including debit balances. He, therefore, concluded that the ITO was not justified in treating the entire income of the minors under s. 64. Hence these appeals before us. 5. On behalf of the Revenue it is contended by the ld. Deptl. Representative that there was no justification for the AAC to delete the addition made by the ITO in view of the facts of the case, under .....

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..... nue, however, is that the decision in the case of S. Srinivasan was taken into account by the Hon'ble Madras High Court in the case cited above. 6. We have taken into account the rival contentions of both the sides. The findings of the AAC in both the appeals have not been controverted. No material has been placed to link up the benefits of the partnership with the deposits or the income derived .....

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