https://www.taxtmi.com/caselaws?id=66427 Transfer of shares by a female member into the family hotchpot of an HUF consisting only of herself and her husband was not a valid gift chargeable to gift-tax. The transfer was expressly conditioned so that the karta had no power of disposition and the property would revert to the assessee if disposition arose, showing no effective divestment of beneficial ownership. The text applies the principle that a gift requires voluntary transfer, acceptance, and an intention to part with ownership, and notes that blending is a unilateral act. As a female member without a right to demand partition, the blending was ineffective, and the deeming provisions invoked by the revenue did not change the result. en-us Thu, 29 Sep 1983 00:00:00 +0530 Thu, 24 Feb 2011 16:16:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66427 Transfer of shares by a female member into the family hotchpot of an HUF consisting only of herself and her husband was not a valid gift chargeable to gift-tax. The transfer was expressly conditioned so that the karta had no power of disposition and the property would revert to the assessee if disposition arose, showing no effective divestment of beneficial ownership. The text applies the principle that a gift requires voluntary transfer, acceptance, and an intention to part with ownership, and notes that blending is a unilateral act. As a female member without a right to demand partition, the blending was ineffective, and the deeming provisions invoked by the revenue did not change the result. Case-Laws Income Tax Thu, 29 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66427