https://www.taxtmi.com/caselaws?id=168546 A settlement deed is treated as revocable where it reserves to the settlor a right, even on a contingent event, to retransfer property or reassume control over assets already allotted. On the facts discussed, the deed appeared to make an absolute allotment to the sons, but it also allowed the settlor to select and reallocate properties if the contemplated stridhanam deed to the daughter was obstructed or delayed. That reserved power was sufficient to bring the transfer within the proviso to section 9(1) of the Travancore-Cochin Agricultural Income-tax Act, 1950. The third proviso was not applicable because irrevocability for the required period was not shown. en-us Tue, 18 Dec 1962 00:00:00 +0530 Wed, 11 Mar 2015 16:55:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168546 A settlement deed is treated as revocable where it reserves to the settlor a right, even on a contingent event, to retransfer property or reassume control over assets already allotted. On the facts discussed, the deed appeared to make an absolute allotment to the sons, but it also allowed the settlor to select and reallocate properties if the contemplated stridhanam deed to the daughter was obstructed or delayed. That reserved power was sufficient to bring the transfer within the proviso to section 9(1) of the Travancore-Cochin Agricultural Income-tax Act, 1950. The third proviso was not applicable because irrevocability for the required period was not shown. Case-Laws Income Tax Tue, 18 Dec 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168546