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1961 (1) TMI 5 - SC - Income TaxWhether there can be said to be transfer of assets to the wife or to " any person " for the benefit of the wife? Whether there was adequate consideration for the transfer, if there was one? Held that:- This case falls within the special rules concerning wife and minor child, laid down in section 16(3)(b), and not within the third proviso to section 16(1)(c). It must thus be held that there was a transfer of the assets to the husband-trustee for the benefit of the wife. The answer given by the High Court was thus correct. Appeals dismissed.
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