COMMR. OF INCOME TAX(CENTRAL) LUDHIANA vs OM PARKASH

The Supreme Court interpreted the term 'individual' in Section 64(1)(i)(ii) of the Income Tax Act, 1961, determining that the Karta of a Hindu Undivided Family does not qualify as an 'individual' for the purposes of income assessment. The Court held that the income of minor children from partnership firms cannot be included in the Karta's total income, affirming the decision of the Income Tax Appellate Tribunal. This ruling resolves the conflicting opinions among various High Courts regarding the interpretation of 'individual' under the Income Tax Act.