https://www.taxtmi.com/caselaws?id=5479 The Supreme Court held that the capital gain from the sale of a house property, purchased with a cash gift to a minor son, should be included in the assessee's income under Section 64(1)(iv) of the Income-tax Act, 1961. The court emphasized that the capital gain arose directly or indirectly from the transferred asset and distinguished relevant precedents. The appeal was allowed, setting aside the High Court's judgment and ruling in favor of the Revenue against the assessee. en-us Wed, 11 Oct 1995 00:00:00 +0530 Tue, 25 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5479 The Supreme Court held that the capital gain from the sale of a house property, purchased with a cash gift to a minor son, should be included in the assessee's income under Section 64(1)(iv) of the Income-tax Act, 1961. The court emphasized that the capital gain arose directly or indirectly from the transferred asset and distinguished relevant precedents. The appeal was allowed, setting aside the High Court's judgment and ruling in favor of the Revenue against the assessee. Case-Laws Income Tax Wed, 11 Oct 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5479