https://www.taxtmi.com/caselaws?id=19248 The High Court of Madras ruled that dividend income from shares transferred to a trust for a minor, with benefits deferred until the minor reached majority, should not be included in the assessee's income under section 64(1)(v) of the Income-tax Act, 1961. The court emphasized that the trust deed provisions and the delayed benefit to the minor were key considerations in the application of the tax provision. The decision aligned with previous judicial interpretations and upheld the Tribunal's ruling in favor of the assessee, rejecting the Department's argument that the deferred benefit to the minor triggered section 64(1)(v). en-us Thu, 25 Aug 1994 00:00:00 +0530 Wed, 04 Nov 2009 18:48:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19248 The High Court of Madras ruled that dividend income from shares transferred to a trust for a minor, with benefits deferred until the minor reached majority, should not be included in the assessee's income under section 64(1)(v) of the Income-tax Act, 1961. The court emphasized that the trust deed provisions and the delayed benefit to the minor were key considerations in the application of the tax provision. The decision aligned with previous judicial interpretations and upheld the Tribunal's ruling in favor of the assessee, rejecting the Department's argument that the deferred benefit to the minor triggered section 64(1)(v). Case-Laws Income Tax Thu, 25 Aug 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19248