https://www.taxtmi.com/caselaws?id=38808 Income arising under trusts for minor children was analysed under section 64(v) by construing the phrase "for the immediate or deferred benefit" in light of the provision's anti-avoidance purpose and legislative history. The text explains that the section targets transfers intended to secure benefits for minors during minority, including benefits postponed within that period, but it does not extend to a contingent benefit that arises only after majority. Where the trust deed provides for accumulation during minority and the child has no present vested right in the income, the interest is contingent rather than vested, and the income is outside section 64(v). en-us Tue, 09 Nov 1976 00:00:00 +0530 Thu, 01 Aug 2019 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38808 Income arising under trusts for minor children was analysed under section 64(v) by construing the phrase "for the immediate or deferred benefit" in light of the provision's anti-avoidance purpose and legislative history. The text explains that the section targets transfers intended to secure benefits for minors during minority, including benefits postponed within that period, but it does not extend to a contingent benefit that arises only after majority. Where the trust deed provides for accumulation during minority and the child has no present vested right in the income, the interest is contingent rather than vested, and the income is outside section 64(v). Case-Laws Income Tax Tue, 09 Nov 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38808