https://www.taxtmi.com/caselaws?id=26445 The court ruled in favor of the assessee, affirming eligibility for relief under section 85 of the Income-tax Act, 1961 for dividends received on shares transferred to the spouse under section 64(iii) for assessment years 1965-66 and 1966-67. The Tribunal's decision granting the rebate was upheld, rejecting the Revenue's argument that the assessee did not qualify as the owner of the shares. The court emphasized the application of section 64(iii) to prevent tax evasion by attributing income from transferred assets to the individual transferring them, thereby allowing the dividends to be considered as the assessee's income. en-us Fri, 25 Oct 1985 00:00:00 +0530 Fri, 05 Feb 2010 10:29:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26445 The court ruled in favor of the assessee, affirming eligibility for relief under section 85 of the Income-tax Act, 1961 for dividends received on shares transferred to the spouse under section 64(iii) for assessment years 1965-66 and 1966-67. The Tribunal's decision granting the rebate was upheld, rejecting the Revenue's argument that the assessee did not qualify as the owner of the shares. The court emphasized the application of section 64(iii) to prevent tax evasion by attributing income from transferred assets to the individual transferring them, thereby allowing the dividends to be considered as the assessee's income. Case-Laws Income Tax Fri, 25 Oct 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26445