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1 - 6 of 6 (0.22 seconds)Section 5 in The Income Tax Act, 1961 [Entire Act]
Section 256 in The Income Tax Act, 1961 [Entire Act]
The Taxation Laws (Amendment) Act, 2006
Commissioner Of Income-Tax vs Shri Manakram on 13 February, 1990
6. Coming to the question involved, a bare reading of the provisions quoted above clearly shows that the income of the minor child of an individual which is derived from the admission of the minor to the benefits of partnership firm will be deemed to be the income of such an individual. It forms part of the "total income" of the individual concerned for the purposes of the Act, as is apparent from Section 2(45) read with Section 5 thereof. In view of the legal fiction created by the Legislature, it is wholly immaterial whether such an individual has any income of his own or not. Similar views have been taken in the cases of CIT v. Shri Manakram [1990] 183 ITR 382 (MP) and CIT v. Sanyasi Mohapatra [1991] 188 ITR 602 (Orissa).
Commissioner Of Income-Tax vs Sanyasi Mohapatra on 10 August, 1990
6. Coming to the question involved, a bare reading of the provisions quoted above clearly shows that the income of the minor child of an individual which is derived from the admission of the minor to the benefits of partnership firm will be deemed to be the income of such an individual. It forms part of the "total income" of the individual concerned for the purposes of the Act, as is apparent from Section 2(45) read with Section 5 thereof. In view of the legal fiction created by the Legislature, it is wholly immaterial whether such an individual has any income of his own or not. Similar views have been taken in the cases of CIT v. Shri Manakram [1990] 183 ITR 382 (MP) and CIT v. Sanyasi Mohapatra [1991] 188 ITR 602 (Orissa).
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