https://www.taxtmi.com/caselaws?id=7021 Inter-connected share transfers carried out as part of a single scheme may constitute an indirect transfer of assets to a wife under section 16(3)(a)(iii) of the Indian Income-tax Act, 1922, even where no direct one-step transfer from husband to wife occurs. On that reasoning, dividend income from such shares is includible in the assessee's income. Section 16(3)(b) is narrower and applies only to transfers to another person for the wife's or minor child's benefit, such as a trust or similar arrangement; it does not extend to indirect chain transactions of this kind. en-us Tue, 01 Aug 1967 00:00:00 +0530 Sat, 07 Feb 2009 19:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7021 Inter-connected share transfers carried out as part of a single scheme may constitute an indirect transfer of assets to a wife under section 16(3)(a)(iii) of the Indian Income-tax Act, 1922, even where no direct one-step transfer from husband to wife occurs. On that reasoning, dividend income from such shares is includible in the assessee's income. Section 16(3)(b) is narrower and applies only to transfers to another person for the wife's or minor child's benefit, such as a trust or similar arrangement; it does not extend to indirect chain transactions of this kind. Case-Laws Income Tax Tue, 01 Aug 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7021