Section 63(a) in The Income Tax Act, 1961

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Union of India - Subsection

Section 63(a) in The Income Tax Act, 1961

(a)a transfer shall be deemed to be revocable if-

(i)it contains any provision for the re-transfer directly or indirectly of the whole or any part of the income or assets to the transferor, or

(ii)it, in any way, gives the transferor a right to re-assume power directly or indirectly over the whole or any part of the income or assets;