https://www.taxtmi.com/caselaws?id=69935 The Tribunal allowed the departmental appeals, reinstating the Income Tax Officer's decision to include share income in the individual's assessment under section 64(1)(vi) of the Income-tax Act, 1961. The Tribunal emphasized the direct nexus between the capital gifted to the son's wife and the share income generated, rejecting arguments based on withdrawals as unsubstantiated. Capital contribution was deemed crucial in attributing income, and the Tribunal upheld the inclusion of share income due to the ongoing income generation from the initially transferred assets, ultimately affirming the inclusion of the income in the individual's assessment. en-us Wed, 07 Apr 1982 00:00:00 +0530 Wed, 13 Apr 2011 10:13:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69935 The Tribunal allowed the departmental appeals, reinstating the Income Tax Officer's decision to include share income in the individual's assessment under section 64(1)(vi) of the Income-tax Act, 1961. The Tribunal emphasized the direct nexus between the capital gifted to the son's wife and the share income generated, rejecting arguments based on withdrawals as unsubstantiated. Capital contribution was deemed crucial in attributing income, and the Tribunal upheld the inclusion of share income due to the ongoing income generation from the initially transferred assets, ultimately affirming the inclusion of the income in the individual's assessment. Case-Laws Income Tax Wed, 07 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69935