https://www.taxtmi.com/caselaws?id=66481 A transfer of equity shares from a father to his minor son was treated as a completed gift for gift-tax purposes once the share certificates and transfer deeds were delivered and beneficial ownership passed, even though company registration followed later. The minor's signature on the transfer form did not invalidate the transaction because the donor was the absolute owner and could act as natural guardian for the minor donee. For valuation of unquoted equity shares, averaging break-up value and yield value had no legal basis; the proper approach was yield-based valuation on the facts, with the matter remitted for fresh assessment on that basis. en-us Tue, 30 Sep 1986 00:00:00 +0530 Thu, 24 Feb 2011 18:42:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66481 A transfer of equity shares from a father to his minor son was treated as a completed gift for gift-tax purposes once the share certificates and transfer deeds were delivered and beneficial ownership passed, even though company registration followed later. The minor's signature on the transfer form did not invalidate the transaction because the donor was the absolute owner and could act as natural guardian for the minor donee. For valuation of unquoted equity shares, averaging break-up value and yield value had no legal basis; the proper approach was yield-based valuation on the facts, with the matter remitted for fresh assessment on that basis. Case-Laws Income Tax Tue, 30 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66481