https://www.taxtmi.com/caselaws?id=7038 Dividend income from shares acquired with funds supplied by the husband was treated as income arising directly or indirectly from assets transferred to the wife under section 16(3)(a)(iii) of the Indian Income-tax Act, 1922. The Court held that the later exchange of the original shares for shares in the purchasing company did not sever the traceable connection between the transferred funds and the dividend-producing asset; it was only a substitution of one form of property for another. Authorities on bonus shares, capital gains, and interest on sale proceeds were distinguished because they involved different factual chains. en-us Thu, 06 Apr 1967 00:00:00 +0530 Sun, 08 Feb 2009 10:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7038 Dividend income from shares acquired with funds supplied by the husband was treated as income arising directly or indirectly from assets transferred to the wife under section 16(3)(a)(iii) of the Indian Income-tax Act, 1922. The Court held that the later exchange of the original shares for shares in the purchasing company did not sever the traceable connection between the transferred funds and the dividend-producing asset; it was only a substitution of one form of property for another. Authorities on bonus shares, capital gains, and interest on sale proceeds were distinguished because they involved different factual chains. Case-Laws Income Tax Thu, 06 Apr 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7038