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Income from Gift Given to Spouse

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(Querist)
15 December 2009 Dear All,

A wife gifts Rs. 1 Lac to her husband. Husband invests that amount in Fixed Deposit.

Interst from FD will be clubbed in the income of Husband or wife.

Plz clarify
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CA Mohd. Ubaid

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CA Mohd. Ubaid (Expert)
15 December 2009 As per ruling of SC in case of Mohini Thapar(1972)83 ITR 208 Interest shall be clubbed in the hands of wife.
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
16 December 2009 pls explain more about that case Mr.Mohd.
Thanks in advance
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