https://www.taxtmi.com/caselaws?id=56956 Section 6 of the Married Women's Property Act, 1874 creates a statutory trust in favour of the wife or wife and children when a married man effects a policy on his own life for their benefit, so the policy proceeds do not form part of the husband's estate. On that basis, interest income from sums received under such policies was treated as belonging to the beneficiary wife, and payment of premiums from HUF funds did not alter ownership or shift the income to the husband's HUF. Section 64 of the Income-tax Act, 1961 was held inapplicable because it contained no deeming fiction to tax the income in the HUF's hands. en-us Fri, 09 Dec 1983 00:00:00 +0530 Tue, 07 Dec 2010 15:14:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56956 Section 6 of the Married Women's Property Act, 1874 creates a statutory trust in favour of the wife or wife and children when a married man effects a policy on his own life for their benefit, so the policy proceeds do not form part of the husband's estate. On that basis, interest income from sums received under such policies was treated as belonging to the beneficiary wife, and payment of premiums from HUF funds did not alter ownership or shift the income to the husband's HUF. Section 64 of the Income-tax Act, 1961 was held inapplicable because it contained no deeming fiction to tax the income in the HUF's hands. Case-Laws Income Tax Fri, 09 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56956