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Cutiepie..:))) (Querist)
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09 March 2014 query on irrevocable transfer.. is it so dat if a person(receiver) receives an asset under irrevocable transfer cannot sell d asset nor he gets d ownership of d asset?????

Nikhil Kaushik

Nikhil Kaushik (Expert)
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10 March 2014 irrevocable transfer means that the transferor cannot recoup the control over the asset. if the asset cannot be sold by the transferee and there is a provision that asset would revert back to the original transferor, then it cannot be considered as irrevocable transfer.

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