Income from assets transferred to son's wife without adequate consideration is taxed under Section 64(1)(vi) of the Income Tax Act.

Income arising from assets transferred by an individual to their son's wife, without adequate consideration, is included in the transferor's income under Section 64(1)(vi) of the Income Tax Act. This provision applies if the relationship exists both at the time of asset transfer and when the income accrues. It also covers cross-transfers, ensuring that any such income is taxed as part of the transferor's income.

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