https://www.taxtmi.com/caselaws?id=21994 The High Court ruled against the assessee, affirming the applicability of section 64(1)(iii) in cases of property transfers to spouses without adequate consideration. The court held that under section 64(1)(iii), income from such transfers should be included in the individual's total income, contrary to the assessee's argument based on section 52(2). The judgment emphasized the limitations of legal fictions and upheld the Revenue's position, clarifying the assessment of capital gains in such transactions. en-us Fri, 12 Apr 1991 00:00:00 +0530 Sat, 05 Dec 2009 13:15:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21994 The High Court ruled against the assessee, affirming the applicability of section 64(1)(iii) in cases of property transfers to spouses without adequate consideration. The court held that under section 64(1)(iii), income from such transfers should be included in the individual's total income, contrary to the assessee's argument based on section 52(2). The judgment emphasized the limitations of legal fictions and upheld the Revenue's position, clarifying the assessment of capital gains in such transactions. Case-Laws Income Tax Fri, 12 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21994