• S. Raghbir Singh v. CIT [57 ITR 408 (SC)] 👉 If there is a clause allowing the transferor to take back power over the asset, the transfer is revocable. It doesn’t matter whether the power is actually used or not. 𝗙𝗼𝗿 𝗺𝗼𝗿𝗲 𝘀𝘂𝗰𝗵 𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝘂𝗽𝗱𝗮𝘁𝗲𝘀 𝗼𝗻 𝗚𝗦𝗧 . 𝗽𝗹𝗲𝗮𝘀𝗲 𝗷𝗼𝗶𝗻 𝗼𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗴𝗿𝗼𝘂𝗽𝘀 𝗮𝗻𝗱 𝘀𝘁𝗮𝘆 𝗮𝗵𝗲𝗮𝗱 𝘄𝗶𝘁𝗵 𝘁𝗶𝗺𝗲𝗹𝘆 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀: chat.whatsapp.com/ClQliNoAdYdFSLJs7SpZ9f?mode=ac_t