https://www.taxtmi.com/caselaws?id=37044 Section 4(1)(a)(ii) of the Wealth-tax Act, 1957 was construed as applying only to assets transferred by an assessee to his own minor child, because the provision then in force did not use the broader "directly or indirectly" language found in clause (a)(i). Inter-related family gifts to a nephew or niece, even if part of connected transactions on the same day, could not be treated as indirect transfers to the assessee's minor child by implication. The later insertion of "directly or indirectly" was treated as clarificatory and prospective, confirming that the original text did not cover such indirect transfers. en-us Tue, 12 Jul 1977 00:00:00 +0530 Fri, 26 Mar 2010 11:17:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37044 Section 4(1)(a)(ii) of the Wealth-tax Act, 1957 was construed as applying only to assets transferred by an assessee to his own minor child, because the provision then in force did not use the broader "directly or indirectly" language found in clause (a)(i). Inter-related family gifts to a nephew or niece, even if part of connected transactions on the same day, could not be treated as indirect transfers to the assessee's minor child by implication. The later insertion of "directly or indirectly" was treated as clarificatory and prospective, confirming that the original text did not cover such indirect transfers. Case-Laws Wealth-tax Tue, 12 Jul 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37044