Supreme Court · 1971 INSC 261 · Decided 23 September 1971
Mohini Thapar (Dead) BY L. RS. v. C.I.T. (Central) Calcutta & ORS.
- Court
- Supreme Court of India
- Citation
- 1971 INSC 261 · [1972] 1 S.C.R. 883
- Case number
- CIVIL APPEAL No. 1374/1970
- Decided
- 23 September 1971
- Bench
- K.S. HEGDE, A.N. GROVER, HANS RAJ KHANNA (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 16(3)(a)(iii)
Headnote
Income-tax Act, 1922, s. 16(3) (a) (iii)-Scope of. The assessee made certain cash gifts to his wife. Out of those gifts she purchased shares and made investments. On the question whether the divide1ds earned and the interests realised were income "from assets transferred directly or of s. 16(3)(a)(iii) of the Income-tax Act, 1922, HELD: Section 16(3)(a)(iii) includes not merely the income that arises directly from the assets transferred but also the income that arises indirectly 'from those assets. In the present case the income bas a nexus with .the assets transferred and
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