https://www.taxtmi.com/caselaws?id=800721 Section 64(1)(iv) ordinarily requires income from an asset transferred by one spouse to the other without adequate consideration to be included in the transferor spouse's income. Where disclosure that gifted property was sold and the proceeds invested in fixed deposits was made only after the period to reopen the transferor spouse's assessment had expired, and the transferor had not filed a return, the delayed claim was treated as an attempt to prevent assessment in either spouse's hands. The resulting capital gain remained assessable in the recipient spouse's hands rather than being clubbed with the husband's income. en-us Wed, 30 Sep 2026 00:00:00 +0530 Sat, 10 Oct 2026 08:32:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800721 Section 64(1)(iv) ordinarily requires income from an asset transferred by one spouse to the other without adequate consideration to be included in the transferor spouse's income. Where disclosure that gifted property was sold and the proceeds invested in fixed deposits was made only after the period to reopen the transferor spouse's assessment had expired, and the transferor had not filed a return, the delayed claim was treated as an attempt to prevent assessment in either spouse's hands. The resulting capital gain remained assessable in the recipient spouse's hands rather than being clubbed with the husband's income. Case-Laws Income Tax Wed, 30 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800721