https://www.taxtmi.com/caselaws?id=272607 Dividend income from bonus shares allotted to a minor child after an earlier transfer of shares by the assessee was not taxable in the assessee's hands under Section 16(3)(a)(iv) of the Income-tax Act, 1922. The provision applies to income arising directly or indirectly from assets transferred by the assessee, but the bonus shares were an accretion to the transferred holding and not the transferred assets themselves. As the dividend arose from that accretion rather than from the original transfer, it could not be clubbed with the assessee's income. en-us Mon, 15 Jun 1959 00:00:00 +0530 Wed, 09 May 2018 15:28:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272607 Dividend income from bonus shares allotted to a minor child after an earlier transfer of shares by the assessee was not taxable in the assessee's hands under Section 16(3)(a)(iv) of the Income-tax Act, 1922. The provision applies to income arising directly or indirectly from assets transferred by the assessee, but the bonus shares were an accretion to the transferred holding and not the transferred assets themselves. As the dividend arose from that accretion rather than from the original transfer, it could not be clubbed with the assessee's income. Case-Laws Income Tax Mon, 15 Jun 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272607