https://www.taxtmi.com/caselaws?id=20748 The clubbing provisions on indirect transfers may apply where gifts are arranged as interconnected parts of the same transaction. On the stated facts, the assessee's transfer to his father's wife followed closely after gifts by the father to the assessee's wife and minor child, with identical amounts and reciprocal sequencing. Those features indicated that the transfers were linked rather than independent, and that the interest arising to the wife and minor child could fall within income arising from assets transferred indirectly by the assessee. The commentary emphasises that the governing test is the real substance of the arrangement, not its formal split into separate transfers. en-us Tue, 09 Mar 1993 00:00:00 +0530 Tue, 17 Nov 2009 10:33:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20748 The clubbing provisions on indirect transfers may apply where gifts are arranged as interconnected parts of the same transaction. On the stated facts, the assessee's transfer to his father's wife followed closely after gifts by the father to the assessee's wife and minor child, with identical amounts and reciprocal sequencing. Those features indicated that the transfers were linked rather than independent, and that the interest arising to the wife and minor child could fall within income arising from assets transferred indirectly by the assessee. The commentary emphasises that the governing test is the real substance of the arrangement, not its formal split into separate transfers. Case-Laws Income Tax Tue, 09 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20748