https://www.taxtmi.com/caselaws?id=175707 Income arising from assets settled under revocable instruments executed before 1 April 1939 was treated as taxable in the settlor's hands under the amended Section 16(1)(c) of the Indian Income-tax Act, 1922. The amendment expressly covered income from settlements or dispositions, whether revocable or not, and from revocable transfers of assets, and the text was read according to its plain meaning without implying a temporal limitation for pre-commencement transfers. The assessment was therefore governed by the amended law in force for the relevant year, and the income was rightly assessed on the settlor. en-us Mon, 26 Feb 1945 00:00:00 +0630 Thu, 03 Dec 2015 13:03:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175707 Income arising from assets settled under revocable instruments executed before 1 April 1939 was treated as taxable in the settlor's hands under the amended Section 16(1)(c) of the Indian Income-tax Act, 1922. The amendment expressly covered income from settlements or dispositions, whether revocable or not, and from revocable transfers of assets, and the text was read according to its plain meaning without implying a temporal limitation for pre-commencement transfers. The assessment was therefore governed by the amended law in force for the relevant year, and the income was rightly assessed on the settlor. Case-Laws Income Tax Mon, 26 Feb 1945 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=175707