https://www.taxtmi.com/caselaws?id=25877 The High Court of Kerala interpreted the term "irrevocable transfer" under the Wealth-tax Act, 1957 before and after the April 1, 1965 amendment. The court held that the transfer of shares by the assessee to the donees in 1961, with an obligation to retransfer in 1969, constituted an irrevocable transfer. Despite the provision for retransfer, the court ruled in favor of the assessee, stating that the concept of "irrevocable transfer" remained consistent pre and post-amendment. Consequently, the shares were deemed not assessable in the assessee's hands for the relevant assessment years. en-us Thu, 05 Mar 1987 00:00:00 +0530 Mon, 01 Feb 2010 14:14:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25877 The High Court of Kerala interpreted the term "irrevocable transfer" under the Wealth-tax Act, 1957 before and after the April 1, 1965 amendment. The court held that the transfer of shares by the assessee to the donees in 1961, with an obligation to retransfer in 1969, constituted an irrevocable transfer. Despite the provision for retransfer, the court ruled in favor of the assessee, stating that the concept of "irrevocable transfer" remained consistent pre and post-amendment. Consequently, the shares were deemed not assessable in the assessee's hands for the relevant assessment years. Case-Laws Wealth-tax Thu, 05 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25877