https://www.taxtmi.com/caselaws?id=60890 The appeal pertained to the exclusion of share income from the assessee's taxable income for the assessment year 1982-83. The Tribunal upheld the decision to exclude the share income gifted to M/s Thakur Devi Investments Pvt. Ltd., affirming that the gift was valid and the income had been effectively diverted to the donee entity. The Tribunal found that the provisions of section 60 of the Income-tax Act were not applicable in this case, and the share income should not be included in the assessee's taxable income. The appeal was dismissed, confirming the exclusion of the share income. en-us Mon, 14 Nov 1994 00:00:00 +0530 Sun, 06 Feb 2011 03:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60890 The appeal pertained to the exclusion of share income from the assessee's taxable income for the assessment year 1982-83. The Tribunal upheld the decision to exclude the share income gifted to M/s Thakur Devi Investments Pvt. Ltd., affirming that the gift was valid and the income had been effectively diverted to the donee entity. The Tribunal found that the provisions of section 60 of the Income-tax Act were not applicable in this case, and the share income should not be included in the assessee's taxable income. The appeal was dismissed, confirming the exclusion of the share income. Case-Laws Income Tax Mon, 14 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60890