1990 (2) TMI 29

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..... ppellate Tribunal, Patna Bench, has referred the following question of law to this court for its opinion : "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in upholding the inclusion of the share income of minor sons from the various firms in the hands of the father on the ground that section 64(1)(iii) of the Income-tax Act, 1961, as amended from Apri .....

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..... , the assessees preferred appeals before the Appellate Assistant Commissioner who dismissed the appeals. On further appeal before the Tribunal, the Tribunal also upheld the decision of the Income-tax Officer. Aggrieved by the decision of the Tribunal, the assessees sought reference and it is at the instance of the assessees that the aforesaid question of law has been referred to this court for it .....

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..... they were admitted as partners was assessable in the hands of their fathers by virtue of the provisions of section 64 ( I ) (iii) of the Act as amended from April 1, 1976 by the Taxation Laws (Amendment) Act, 1975. Our answer to the question referred to this court is, therefore, in the affirmative and against the assessees. In the circumstances of these cases, parties shall bear their own costs .....

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