https://www.taxtmi.com/caselaws?id=37719 The High Court upheld the Tribunal's decision that income from the trust property, settled by the assessee for the benefit of his wife and children, should be included in his total income under Section 64(v) of the Income Tax Act, 1961. The court relied on precedents supporting the inclusion of income from assets transferred to a spouse or minor child without adequate consideration. The decision favored the revenue, with each party bearing its own costs. en-us Wed, 05 Apr 1978 00:00:00 +0530 Wed, 31 Mar 2010 16:05:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37719 The High Court upheld the Tribunal's decision that income from the trust property, settled by the assessee for the benefit of his wife and children, should be included in his total income under Section 64(v) of the Income Tax Act, 1961. The court relied on precedents supporting the inclusion of income from assets transferred to a spouse or minor child without adequate consideration. The decision favored the revenue, with each party bearing its own costs. Case-Laws Income Tax Wed, 05 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37719