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Clubbing provision + taxation

This query is : Resolved 
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(Querist)
22 July 2017 X gift the car to his wife-Y. X still pay the interest on loan which he take for purchasing car. And car is still in the name of X, even after gifted to wife-Y.
It is valid gift ?

Moreover, Y give that car on rent and stared earning.(car is still in name of X)
In such a case clubbing provision attracted ?
Thanks in advance, hope you understand the case study !
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
24 July 2017 In my view, this is not a valid gift. Income earned by will be clubbed in the hands of X.
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