https://www.taxtmi.com/caselaws?id=64976 The Appellate Tribunal ruled in favor of the assessee in an appeal challenging the inclusion of income in the assessment under the Income-tax Act. The Tribunal found that the Trust created by the husband was not revocable as it did not provide the settlor with a definite right to retransfer or reassume income or assets. Emphasizing the separation of legal entities and lack of provisions for indirect retransfer to the settlor, the Tribunal concluded that the Trust was irrevocable under section 63(a)(i) and directed the deletion of the income inclusion in the assessment for the year in question. en-us Thu, 17 Dec 1992 00:00:00 +0530 Fri, 11 Feb 2011 14:10:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64976 The Appellate Tribunal ruled in favor of the assessee in an appeal challenging the inclusion of income in the assessment under the Income-tax Act. The Tribunal found that the Trust created by the husband was not revocable as it did not provide the settlor with a definite right to retransfer or reassume income or assets. Emphasizing the separation of legal entities and lack of provisions for indirect retransfer to the settlor, the Tribunal concluded that the Trust was irrevocable under section 63(a)(i) and directed the deletion of the income inclusion in the assessment for the year in question. Case-Laws Income Tax Thu, 17 Dec 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64976