The meaning of arrangement under section 60 to 63 of the Income Tax Act is not defined in the act itself. But we can take guidance from decisions by various high courts. Here are excerpts of courts orders in which the Hon’ble High Court tried to explain the meaning of arrangement.
Meaning of arrangement defined by court
The phrase ‘arrangement’ used in section 60 to 63 of the Income Tax Act came up before hon’ble Punjab & Haryana High Court in S.P. Jaiswal v. CIT  130 ITR 643 (Punj. & Har.) and it explained.
Meaning: The word ‘arrangement’ has not been used as a term of art but has been used in the business sense. 350
Section 60 of Income Tax Act
Transfer of income where there is no transfer of assets.
60. All income arising to any person by virtue of a transfer whether revocable or not and whether effected before or after the commencement of this Act shall, where there is no transfer of the assets from which the income arises, be chargeable to income-tax as the income of the transferor and shall be included in his total income.
In this article, you can get guidance from high courts on the meaning of arrangement under section 60 to 63 of the Income Tax Act.
Updated up to Finance Act 2021