Case Law Details
Case Name : R.P. Sarathy for Minor Pranuthi Vs JCIT (Madras High Court)
Related Assessment Year : 1995-1996 to 1999-2000
Courts :
All High Courts Madras High Court
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R.P. Sarathy for Minor Pranuthi Vs JCIT (Madras High Court)
Conclusion –
If parents are not available, Section 160 (1) (ii) of the Act will stand attracted and the Guardian will become the Legal Representative, liable to discharge all the tax obligations under the Act on behalf of the minor.
Facts –
Assessee, a minor, inherited property of her parents and grandmother and derived income from the same.
AO assessed taxable income in the hands of Minor holding that section 64(1A) couldn’t be applied since both the parents of the minor have expired. However, Tribunal held that income of minor...
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A minor get interest income from the Investment. Such investment was made from the Money received from the Mediclaim amount received due to accidental death of his father. Such interest income needs to club with the income of Guardian who is taking care and has invested such money in the name of minor?