https://www.taxtmi.com/caselaws?id=6312 Income from dividends and interest was held to fall within the spouse-transfer inclusion rule where the husband had made cash gifts to his wife and she later invested those gifts in shares and deposits. The provision applies to income arising directly or indirectly from assets transferred by the husband, and the later investment by the wife did not sever the statutory link. The controlling test is a proximate, not remote, connection between the transferred assets and the income. On that basis, the income was correctly included in the assessee's taxable income. en-us Thu, 23 Sep 1971 00:00:00 +0530 Wed, 04 Mar 2015 15:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6312 Income from dividends and interest was held to fall within the spouse-transfer inclusion rule where the husband had made cash gifts to his wife and she later invested those gifts in shares and deposits. The provision applies to income arising directly or indirectly from assets transferred by the husband, and the later investment by the wife did not sever the statutory link. The controlling test is a proximate, not remote, connection between the transferred assets and the income. On that basis, the income was correctly included in the assessee's taxable income. Case-Laws Income Tax Thu, 23 Sep 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6312