Court Rules No Income Escapement in Transfer of Foreign Bequest; Assessee Lacks Legal Claim to Trust Property. https://www.taxtmi.com/highlights?id=48985 Reopening of assessment - account transfer of foreign bequest(gift) made in earlier year to Sri Lanka based bank account to India - the assessee is yet to enjoy a clear legal title on the trust property and therefore, the same could not have been treated as its income received under the provision of the Act - no escapement of income en-us Fri, 30 Aug 2019 08:37:54 +0530 Fri, 30 Aug 2019 08:37:54 +0530 TaxTMI RSS Generator Court Rules No Income Escapement in Transfer of Foreign Bequest; Assessee Lacks Legal Claim to Trust Property. https://www.taxtmi.com/highlights?id=48985 Reopening of assessment - account transfer of foreign bequest(gift) made in earlier year to Sri Lanka based bank account to India - the assessee is yet to enjoy a clear legal title on the trust property and therefore, the same could not have been treated as its income received under the provision of the Act - no escapement of income Highlights Income Tax Fri, 30 Aug 2019 08:37:54 +0530 https://www.taxtmi.com/highlights?id=48985