https://www.taxtmi.com/caselaws?id=17842 The High Court ruled in favor of the assessee, determining that the interest income attributable to contributions made to a revocable trust cannot be taxed in her hands. The Court emphasized that since the assessee was not the transferor and had no power of revocation over the trust, the income from the transferred assets could not be assessed to her. The Court clarified that only the transferor who provides for retransfer of trust funds can be taxed on the income under section 61 of the Income-tax Act, 1961. The Court did not address the second issue as it was not raised by the Tribunal. en-us Mon, 15 Apr 1996 00:00:00 +0530 Fri, 25 Sep 2009 11:45:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17842 The High Court ruled in favor of the assessee, determining that the interest income attributable to contributions made to a revocable trust cannot be taxed in her hands. The Court emphasized that since the assessee was not the transferor and had no power of revocation over the trust, the income from the transferred assets could not be assessed to her. The Court clarified that only the transferor who provides for retransfer of trust funds can be taxed on the income under section 61 of the Income-tax Act, 1961. The Court did not address the second issue as it was not raised by the Tribunal. Case-Laws Income Tax Mon, 15 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17842