https://www.taxtmi.com/caselaws?id=62108 Payment of life insurance premia from the assessee's own resources, as part of a family arrangement for household support, maintenance and the future welfare of the wife and children, was not a gift for gift-tax purposes because a discharge of one's own personal obligation cannot be characterised as a gift. The policies were treated as a beneficial arrangement for the family rather than property under the husband's beneficial control, so the gift inference failed. Once the premia were excluded from the gift computation, the remaining cash gift fell within the statutory exemption under section 5(1)(viii), leaving no taxable gift. en-us Thu, 13 Jan 1977 00:00:00 +0530 Tue, 18 Jan 2011 11:28:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62108 Payment of life insurance premia from the assessee's own resources, as part of a family arrangement for household support, maintenance and the future welfare of the wife and children, was not a gift for gift-tax purposes because a discharge of one's own personal obligation cannot be characterised as a gift. The policies were treated as a beneficial arrangement for the family rather than property under the husband's beneficial control, so the gift inference failed. Once the premia were excluded from the gift computation, the remaining cash gift fell within the statutory exemption under section 5(1)(viii), leaving no taxable gift. Case-Laws Income Tax Thu, 13 Jan 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62108