law: The Income-Tax Act, 1961
  63. "Transfer" and "revocable transfer" defined.-
  For the purposes of sections 60, 61 and 62 and of this section,-
  (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 ;
  (b) "transfer" includes any settlement, trust, covenant, agreement or arrangement.