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Chargeability of income in transfer of assets.

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Full Text of the Document

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....ty of income in transfer of assets. 97. (1) All income arising to any person by virtue of a revocable transfer of assets shall be chargeable to income-tax as income of the transferor and shall be i....

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Full Text of the Document

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....es referred to in clauses (a) and (b). (3) Irrespective of the provisions of sub-section (2), all income arising to any person by virtue of such transfer shall be chargeable to income-tax as income....

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