You can grab notes for other topics from here.
Equity and taxation are not strangers. SC held that since the income from business of wife or minor child is includable as income of the assessee, the profit or loss from such business should also be treated as the profit or loss from a businesss carried on by him for the purpose of carrying forward and set-off of the loss u/s. This interpretation was based on equity. However, it does not permit anyone to take the benefit of an illegality.
You can grab notes for other topics from here.
