https://www.taxtmi.com/caselaws?id=793218 Loss arising from derivative transactions carried out by a spouse using funds gifted by the assessee was held, in principle, to fall within the clubbing framework under section 64(1)(iv) because the transfer was without consideration and no material showed adequate consideration or an agreement to live apart. The Tribunal accepted that loss attributable to assets transferred to the spouse can be adjusted in the assessee's hands where a nexus with the gifted funds is established. However, the exact quantum of loss eligible for adjustment could not be verified on the record, so the matter was restored for limited verification of the amount under Explanation 3(i). en-us Tue, 19 May 2026 00:00:00 +0530 Thu, 11 Jun 2026 08:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793218 Loss arising from derivative transactions carried out by a spouse using funds gifted by the assessee was held, in principle, to fall within the clubbing framework under section 64(1)(iv) because the transfer was without consideration and no material showed adequate consideration or an agreement to live apart. The Tribunal accepted that loss attributable to assets transferred to the spouse can be adjusted in the assessee's hands where a nexus with the gifted funds is established. However, the exact quantum of loss eligible for adjustment could not be verified on the record, so the matter was restored for limited verification of the amount under Explanation 3(i). Case-Laws Income Tax Tue, 19 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793218