https://www.taxtmi.com/caselaws?id=7068 The court held that the income received by Dadabhoy's wife and children should be included in Dadabhoy's total income for tax purposes under section 16(3) of the Income-tax Act. The court determined that the assignment of Dadabhoy's life interest constituted a transfer of assets, not merely a surrender or relinquishment of interest, as argued by the Tribunal. As a result, the Tribunal's decision was overturned, and the assessee was directed to pay the costs of the Commissioner. en-us Wed, 04 Oct 1967 00:00:00 +0530 Sun, 08 Feb 2009 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7068 The court held that the income received by Dadabhoy's wife and children should be included in Dadabhoy's total income for tax purposes under section 16(3) of the Income-tax Act. The court determined that the assignment of Dadabhoy's life interest constituted a transfer of assets, not merely a surrender or relinquishment of interest, as argued by the Tribunal. As a result, the Tribunal's decision was overturned, and the assessee was directed to pay the costs of the Commissioner. Case-Laws Income Tax Wed, 04 Oct 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7068