https://www.taxtmi.com/caselaws?id=19460 The High Court held that the gifts made by the assessee and his brother were subject to Section 64 of the Income-tax Act, 1961, as the transfer by the brother to the assessee's wife was deemed an indirect transfer by the assessee. Additionally, the court ruled that the interest income of Rs. 7,195 paid by the assessee to his wife had a direct connection to the transferred assets and should be included in the assessee's income under Section 64. Both issues were decided in favor of the Revenue, and the reference was disposed of without costs. en-us Thu, 30 Dec 1993 00:00:00 +0530 Fri, 06 Nov 2009 12:48:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19460 The High Court held that the gifts made by the assessee and his brother were subject to Section 64 of the Income-tax Act, 1961, as the transfer by the brother to the assessee's wife was deemed an indirect transfer by the assessee. Additionally, the court ruled that the interest income of Rs. 7,195 paid by the assessee to his wife had a direct connection to the transferred assets and should be included in the assessee's income under Section 64. Both issues were decided in favor of the Revenue, and the reference was disposed of without costs. Case-Laws Income Tax Thu, 30 Dec 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19460