Court Rules on Income Diversion u/s 60: Transferor Liable for Tax on Income Without Asset Transfer. https://www.taxtmi.com/highlights?id=42358 Diversion of income under a revocable transfer or arrangement - section 60 - transfer of "income" without the "transfer of the asset" - the arrangement was made to avoid incidence of tax in AHR’s hands - additions confirmed. en-us Tue, 30 Oct 2018 17:39:36 +0530 Tue, 30 Oct 2018 17:39:36 +0530 TaxTMI RSS Generator Court Rules on Income Diversion u/s 60: Transferor Liable for Tax on Income Without Asset Transfer. https://www.taxtmi.com/highlights?id=42358 Diversion of income under a revocable transfer or arrangement - section 60 - transfer of "income" without the "transfer of the asset" - the arrangement was made to avoid incidence of tax in AHR’s hands - additions confirmed. Highlights Income Tax Tue, 30 Oct 2018 17:39:36 +0530 https://www.taxtmi.com/highlights?id=42358