https://www.taxtmi.com/caselaws?id=71711 Section 64(iii) applies only where income arises directly from the transfer itself, not where the transferred amount merely serves as capital in a partnership business. A daughter-in-law's share of profit from a firm was held not to be clubbed in the assessee's income because the gift only enabled her capital contribution; the profit arose from her partnership status and the firm's earnings. The addition was deleted, and the assessee obtained relief against clubbing of the partnership income. en-us Wed, 21 Sep 1977 00:00:00 +0530 Tue, 26 Apr 2011 17:05:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71711 Section 64(iii) applies only where income arises directly from the transfer itself, not where the transferred amount merely serves as capital in a partnership business. A daughter-in-law's share of profit from a firm was held not to be clubbed in the assessee's income because the gift only enabled her capital contribution; the profit arose from her partnership status and the firm's earnings. The addition was deleted, and the assessee obtained relief against clubbing of the partnership income. Case-Laws Income Tax Wed, 21 Sep 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71711