https://www.taxtmi.com/caselaws?id=276741 Dividends from shares transferred by a husband to a woman in contemplation of marriage were includible in the husband's income under section 16(3)(a)(iii) because the transferee had become his legally wedded wife before the income accrued, and the transfer was treated as one made to the wife despite marriage being only valuable, not adequate, consideration. However, the same transfer was not revocable within section 16(1)(c), because any right of reversion existed only before marriage and ceased once the marriage took place; no subsisting revocability remained during the relevant assessment years. The reference was accordingly allowed on the first issue and rejected on the second. en-us Tue, 28 Feb 1961 00:00:00 +0530 Fri, 16 Nov 2018 15:47:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276741 Dividends from shares transferred by a husband to a woman in contemplation of marriage were includible in the husband's income under section 16(3)(a)(iii) because the transferee had become his legally wedded wife before the income accrued, and the transfer was treated as one made to the wife despite marriage being only valuable, not adequate, consideration. However, the same transfer was not revocable within section 16(1)(c), because any right of reversion existed only before marriage and ceased once the marriage took place; no subsisting revocability remained during the relevant assessment years. The reference was accordingly allowed on the first issue and rejected on the second. Case-Laws Income Tax Tue, 28 Feb 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276741