https://www.taxtmi.com/caselaws?id=8720 A surrender and release of a prior life interest in trust property did not amount to a transfer of assets to the minor children where the children took only the accelerated benefit of interests already created in their favour under the original settlement; the Revenue's contention under the income-tax anti-avoidance provision failed. Educational expenditure incurred by the assessee's minor children could not be added to the assessee's expenditure under the Expenditure-tax Act because the children were found not to be mainly or wholly dependent on the assessee, and that factual finding stood. Both questions were answered against the Revenue. en-us Thu, 28 Sep 1972 00:00:00 +0530 Wed, 03 Jun 2009 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8720 A surrender and release of a prior life interest in trust property did not amount to a transfer of assets to the minor children where the children took only the accelerated benefit of interests already created in their favour under the original settlement; the Revenue's contention under the income-tax anti-avoidance provision failed. Educational expenditure incurred by the assessee's minor children could not be added to the assessee's expenditure under the Expenditure-tax Act because the children were found not to be mainly or wholly dependent on the assessee, and that factual finding stood. Both questions were answered against the Revenue. Case-Laws Income Tax Thu, 28 Sep 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8720