https://www.taxtmi.com/caselaws?id=17484 The High Court of Madhya Pradesh ruled in favor of the Revenue, holding that the spouse's income should be assessed in the hands of the assessee as per section 64(1) of the Income-tax Act, 1961. The Court emphasized that the assets transferred to the spouse were not for consideration or in connection with an agreement to live apart, making the income from the spouse's investment taxable for the assessee. The Tribunal's decision was overturned as it had misunderstood the legal position outlined in section 64 and its Explanation 3. en-us Wed, 03 Apr 1996 00:00:00 +0530 Tue, 22 Sep 2009 16:14:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17484 The High Court of Madhya Pradesh ruled in favor of the Revenue, holding that the spouse's income should be assessed in the hands of the assessee as per section 64(1) of the Income-tax Act, 1961. The Court emphasized that the assets transferred to the spouse were not for consideration or in connection with an agreement to live apart, making the income from the spouse's investment taxable for the assessee. The Tribunal's decision was overturned as it had misunderstood the legal position outlined in section 64 and its Explanation 3. Case-Laws Income Tax Wed, 03 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17484