https://www.taxtmi.com/caselaws?id=190807 The deed dated 10/08/1949 was construed to determine whether its terms permitted retransfer or reassumption of control so as to render the settlement revocable under section 16(1)(c). Clause 1 created only a limited monthly income charge; clause 5 conferred a contingent right to follow and realise trust property enabling reassumption of power; clause 10 operated complementarily to effect indirect control; clause 12 created a limited income interest; clause 13 did not effect a novation removing contingent settlor benefits. Because a provision enabling reassumption of power (even contingently or as to part) exists, the whole trust income is treated as assessable to the settlor unless temporal benefit limits apply. en-us Wed, 07 Mar 1962 00:00:00 +0530 Tue, 28 Feb 2017 17:03:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190807 The deed dated 10/08/1949 was construed to determine whether its terms permitted retransfer or reassumption of control so as to render the settlement revocable under section 16(1)(c). Clause 1 created only a limited monthly income charge; clause 5 conferred a contingent right to follow and realise trust property enabling reassumption of power; clause 10 operated complementarily to effect indirect control; clause 12 created a limited income interest; clause 13 did not effect a novation removing contingent settlor benefits. Because a provision enabling reassumption of power (even contingently or as to part) exists, the whole trust income is treated as assessable to the settlor unless temporal benefit limits apply. Case-Laws Income Tax Wed, 07 Mar 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190807