https://www.taxtmi.com/highlights?id=100675 Income or loss arising from assets transferred without consideration to a spouse was held to fall within section 64(1)(iv) where the Department failed to show consideration or an agreement to live apart. The Tribunal applied the principle that clubbing extends to income or loss indirectly arising from the transferred asset, so the spouse's derivative trading loss could be considered in the assessee's hands if a nexus with the gifted funds existed. The view that the loss was the spouse's independent trading loss was rejected. The matter was remitted only for verification of the quantum of loss attributable to the gifted funds. en-us Thu, 11 Jun 2026 11:29:55 +0530 Thu, 11 Jun 2026 11:29:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=100675 Income or loss arising from assets transferred without consideration to a spouse was held to fall within section 64(1)(iv) where the Department failed to show consideration or an agreement to live apart. The Tribunal applied the principle that clubbing extends to income or loss indirectly arising from the transferred asset, so the spouse's derivative trading loss could be considered in the assessee's hands if a nexus with the gifted funds existed. The view that the loss was the spouse's independent trading loss was rejected. The matter was remitted only for verification of the quantum of loss attributable to the gifted funds. Highlights Income Tax Thu, 11 Jun 2026 11:29:55 +0530 https://www.taxtmi.com/highlights?id=100675