1995 (8) TMI 41 - HC - Income Tax

Summary

The High Court of Allahabad ruled that a gift made by an assessee to his spouse before marriage is not covered by section 64 of the Income-tax Act. The Income-tax Tribunal's decision was upheld, and the addition of interest to the assessee's income was deleted. The court emphasized that income derived from a gift to a spouse is only included in the assessee's income if the gift is made after marriage.