https://www.taxtmi.com/caselaws?id=8070 A mere release or surrender of a life interest under a trust is not, by itself, a transfer of assets to a minor child for purposes of section 16(3)(a)(iv) of the Indian Income-tax Act, 1922. A release extinguishes the releasor's existing rights; it does not amount to a transfer unless the instrument contains operative words of assignment or other words creating rights in the transferee by the act of transfer itself. Where the beneficiaries take title independently under the trust settlement, their income is not income from assets transferred directly or indirectly by the assessee, and it is not taxable in the assessee's hands. en-us Wed, 04 Mar 1970 00:00:00 +0530 Fri, 27 Mar 2009 18:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8070 A mere release or surrender of a life interest under a trust is not, by itself, a transfer of assets to a minor child for purposes of section 16(3)(a)(iv) of the Indian Income-tax Act, 1922. A release extinguishes the releasor's existing rights; it does not amount to a transfer unless the instrument contains operative words of assignment or other words creating rights in the transferee by the act of transfer itself. Where the beneficiaries take title independently under the trust settlement, their income is not income from assets transferred directly or indirectly by the assessee, and it is not taxable in the assessee's hands. Case-Laws Income Tax Wed, 04 Mar 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8070