Judgment 1. By these references under Sec. 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), the Income-tax Appellate Tribunal, Patna Bench, has referred the following question of law to this court for its opinion : "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in upholding the inclusion of the share income of minor sons from the various firms in the hands of the father on the ground that Sec. 64(1)(iii) of the Income-tax Act, 1961, as amended from April 1, 19.76, by the Taxation Laws (Amendment) Act, 1975, read with Notification No. S. 0. 475(E) dated 5-9-1975, was applicable in the assessment year 1976-77 although the accounting period of the assessee ended on August 10, 1975 ?" 2. The material facts giving rise to these references, briefly, are as follows : The assessees who were minors at the material time were assessed for the assessment year 1976-77. While framing the assessment, the Income-tax Officer held that in view of the amended provisions of Sec. 64(1)(iii) of the Act which came into force with effect from April 1, 1976, the income of the assessees from their admission to the benefits of partnership in certain firms became assessable in the hands of their father. 3. Aggrieved by the order passed by the Income-tax Officer, the assessees preferred appeals before the Appellate Assistant Commissioner who dismissed the appeals. On further appeal before the Tribunal, the Tribunal also upheld the decision of the Income-tax Officer. 4. Aggrieved by the decision of the Tribunal, the assessees sought refer-once and it is at the instance of the assessees that the aforesaid question of law has been referred to this court for its opinion. None appeared on behalf of the assessees. 5. After hearing Shri Vidyarthi, learned counsel for the Revenue, we have come to the conclusion that these references must be answered in the affirmative and against the assessees. 6. It is a cardinal principle of tax laws that the law to be applied is that which is in force at the commencement of the assessment year. 7. In the instant case, the assessment year is 1976-77. Therefore, the law in force on April 1, 1976, would govern the assessment for the assessment year in question. 8. 6. It is a cardinal principle of tax laws that the law to be applied is that which is in force at the commencement of the assessment year. 7. In the instant case, the assessment year is 1976-77. Therefore, the law in force on April 1, 1976, would govern the assessment for the assessment year in question. 8. The Tribunal, in our opinion, was right in/holding that the share income of the minor sons from the firm to which they were admitted as partners was assessable in the hands of their fathers by virtue of the provisions of Section 64(1)(iii) of the Act as amended from April 1, 1976 by the Taxation Laws (Amendment) Act, 1975. 9. Our answer to the question referred to/this court is, therefore, in the affirmative and against the assessees. 10. In the circumstances of these cases, parties shall bear their own costs of these references. 11. Let a copy of this judgment be forwarded by the office of this court to the Assistant Registrar, Income-tax Appellate Tribunal, Patna.