https://www.taxtmi.com/caselaws?id=49486 A declaration of trust by a husband over shares, with the dividend directed to his wife, was treated as a transfer of assets in law because the owner thereafter held the property in a different capacity as trustee. The arrangement fell within the special clubbing provision for transfers for the benefit of a ? No, avoid non-English. The arrangement fell within the special clubbing provision for transfers for the benefit of the wife, and mere love and affection was not adequate consideration. The income was therefore includible in the husband's total income, and the general exemption for certain settlements did not apply. en-us Tue, 03 Jan 1961 00:00:00 +0530 Tue, 01 Jul 2025 16:58:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49486 A declaration of trust by a husband over shares, with the dividend directed to his wife, was treated as a transfer of assets in law because the owner thereafter held the property in a different capacity as trustee. The arrangement fell within the special clubbing provision for transfers for the benefit of a ? No, avoid non-English. The arrangement fell within the special clubbing provision for transfers for the benefit of the wife, and mere love and affection was not adequate consideration. The income was therefore includible in the husband's total income, and the general exemption for certain settlements did not apply. Case-Laws Income Tax Tue, 03 Jan 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49486