https://www.taxtmi.com/caselaws?id=7690 Under section 16(3)(a)(iii), income from immovable property transferred by a husband to his wife is includible only to the extent the transfer lacked adequate consideration; inadequacy does not make the entire income taxable in the transferor's hands. Under section 16(3)(a)(iv), an indirect transfer to minor children must be shown by evidence of a connected or circuitous arrangement, and not by mere identity of the gifted asset. The discussion emphasises that the wife remains owner despite inadequacy of price, and that a later gift by intermediate donees to the minors is insufficient without proof of a common scheme or prior agreement. en-us Fri, 23 Jan 1970 00:00:00 +0530 Tue, 17 Mar 2009 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7690 Under section 16(3)(a)(iii), income from immovable property transferred by a husband to his wife is includible only to the extent the transfer lacked adequate consideration; inadequacy does not make the entire income taxable in the transferor's hands. Under section 16(3)(a)(iv), an indirect transfer to minor children must be shown by evidence of a connected or circuitous arrangement, and not by mere identity of the gifted asset. The discussion emphasises that the wife remains owner despite inadequacy of price, and that a later gift by intermediate donees to the minors is insufficient without proof of a common scheme or prior agreement. Case-Laws Income Tax Fri, 23 Jan 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7690