https://www.taxtmi.com/caselaws?id=39804 The court ruled in favor of the assessee, finding that the Appellate Tribunal's conclusions were flawed due to misinterpretation of statutory language and reliance on irrelevant evidence. The court determined that the amounts in question were not assessable under section 64(iii) of the Income-tax Act, 1961, as they did not constitute indirect transfers by the assessee to his wife. Consequently, both issues were decided in favor of the assessee, who was awarded costs of the proceedings. en-us Thu, 02 May 1974 00:00:00 +0530 Tue, 20 Apr 2010 13:27:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39804 The court ruled in favor of the assessee, finding that the Appellate Tribunal's conclusions were flawed due to misinterpretation of statutory language and reliance on irrelevant evidence. The court determined that the amounts in question were not assessable under section 64(iii) of the Income-tax Act, 1961, as they did not constitute indirect transfers by the assessee to his wife. Consequently, both issues were decided in favor of the assessee, who was awarded costs of the proceedings. Case-Laws Income Tax Thu, 02 May 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39804