https://www.taxtmi.com/caselaws?id=190806 The note addresses income attribution under Section 16(1)(c): a transfer is revocable for attribution purposes where the settlor retains a power to reassume control or revoke the transfer even if exercise is conditional or requires consent, therefore trust income paid to a beneficiary during the settlors' lifetimes is attributable to the settlors. Conversely, where a contingency operates so that a beneficiary acquires absolute entitlement and the trust over specified property is thereby extinguished, subsequent income from that property is not income of a revocable transfer and is not attributable to the settlors. en-us Tue, 16 Mar 1948 00:00:00 +0530 Tue, 28 Feb 2017 16:48:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190806 The note addresses income attribution under Section 16(1)(c): a transfer is revocable for attribution purposes where the settlor retains a power to reassume control or revoke the transfer even if exercise is conditional or requires consent, therefore trust income paid to a beneficiary during the settlors' lifetimes is attributable to the settlors. Conversely, where a contingency operates so that a beneficiary acquires absolute entitlement and the trust over specified property is thereby extinguished, subsequent income from that property is not income of a revocable transfer and is not attributable to the settlors. Case-Laws Income Tax Tue, 16 Mar 1948 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190806