https://www.taxtmi.com/caselaws?id=60115 The court upheld the decision of the Appellate Assistant Commissioner (AAC) regarding the transfer of property to the assessee's wife, ruling that the consideration was adequate based on the market value of the property. The court rejected the revenue's appeal, emphasizing that the consideration was in line with fair market value and dismissing the application of section 64(1)(iv) to include income arising from the transferred property in the wife's hands. en-us Tue, 25 Aug 1981 00:00:00 +0530 Mon, 03 Jan 2011 17:37:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60115 The court upheld the decision of the Appellate Assistant Commissioner (AAC) regarding the transfer of property to the assessee's wife, ruling that the consideration was adequate based on the market value of the property. The court rejected the revenue's appeal, emphasizing that the consideration was in line with fair market value and dismissing the application of section 64(1)(iv) to include income arising from the transferred property in the wife's hands. Case-Laws Income Tax Tue, 25 Aug 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60115