https://www.taxtmi.com/caselaws?id=35800 Dividend from bonus shares allotted to a minor child was held not to be clubbed in the transferor's income under section 64(iv) because the provision applies only where income arises from an asset transferred, directly or indirectly, by the assessee. The bonus shares were issued by the company and were not an asset that the assessee had owned or transferred. As no transferred asset gave rise to the dividend, the clubbing provision could not operate, and the dividend on the bonus shares was excluded from the assessee's total income. en-us Mon, 22 Oct 1979 00:00:00 +0530 Tue, 16 Mar 2010 17:04:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35800 Dividend from bonus shares allotted to a minor child was held not to be clubbed in the transferor's income under section 64(iv) because the provision applies only where income arises from an asset transferred, directly or indirectly, by the assessee. The bonus shares were issued by the company and were not an asset that the assessee had owned or transferred. As no transferred asset gave rise to the dividend, the clubbing provision could not operate, and the dividend on the bonus shares was excluded from the assessee's total income. Case-Laws Income Tax Mon, 22 Oct 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35800