Supreme Court · 2015 INSC 1002 · Decided 14 July 2015
Kapoor Chand (Dead) v. ASSTT. COMMNR. of Income Tax
- Court
- Supreme Court of India
- Citation
- 2015 INSC 1002 · [2015] 10 S.C.R. 871
- Case number
- CIVIL APPEAL No. 675/2005
- Decided
- 14 July 2015
- Bench
- A.K. SIKRI, N.V. RAMANA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 64(1)(iii)
Headnote
A B Income Tax Act, 1961 - s. 64(1) (iii), Explanation 2A - Applicability of- Trust created for the benefit of minor children c - The two trustees (including the assessee) became partners in a partnership firm - Income arising to the Trust from the membership of the trustees in the firm - Whether income of a minor child is taxable at the hands of individual - However, in the present case, the D income has not accrued to the minors in the relevant assessment year, in view of the stipulation in the Trust-deeds that the income would be available to the minors on their attaining majority-
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