https://www.taxtmi.com/caselaws?id=38355 Section 16(3)(a)(iv) of the Indian Income-tax Act, 1922 was held inapplicable to assets placed in trusts created concurrently by related settlors for the benefit of minors. The court followed its earlier Division Bench view that income must arise from assets transferred by the assessee himself, so cross-transfers through separate trusts do not attract section 16(3)(b) and do not amount to an indirect transfer to the assessee's children; the revenue's general anti-avoidance arguments could not displace that binding precedent. en-us Thu, 16 Jun 1977 00:00:00 +0530 Mon, 05 Apr 2010 17:08:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38355 Section 16(3)(a)(iv) of the Indian Income-tax Act, 1922 was held inapplicable to assets placed in trusts created concurrently by related settlors for the benefit of minors. The court followed its earlier Division Bench view that income must arise from assets transferred by the assessee himself, so cross-transfers through separate trusts do not attract section 16(3)(b) and do not amount to an indirect transfer to the assessee's children; the revenue's general anti-avoidance arguments could not displace that binding precedent. Case-Laws Income Tax Thu, 16 Jun 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38355